This really depends on a number of things. Nintendo's biggest fault is marketing and a lack of games. Have those things been fixed? I don't think so, not yet. They have a couple titles so far and several on the way but this is a year into the console life cycle. By the end of Sony's first year they're saying 33 exclusive titles with every one of their studios working on at least one game for the ps4. That's the competiton. Marketing-wise, plenty of people are still unaware that the WiiU is a different console and are especially unaware of the reason why they need it. That's another problem Nintendo has officially acknolwedged. With the Wii seeing a non-trivial amount of old people and casual gamers, you really can't expect them to kept abreast of the issue like we do and that's a problem when coupled with a terrible marketing campaign that really needs to be the best there is. The Wii was a boon to senior centors and really gave casual gamers party experiences and family friendly entertainment they could count on. They don't see why they need to get a WiiU now that they have a Wii.
$50 doesn't take away that problem. It's still $50 more than the previous system's target market bought in. I don't think the money is as important as getting games. With an upcoming bundle containing a game people want, however, I think that will do the most good of all.
http://www.ign.com/games/upcoming/wii-u
http://www.nintendolife.com/wiiu/games/soon
Looks like they're releasing Mario 3D world. That'll help them for Christmas but it's a couple weeks after both the ps4 and XBO launch with a significant number of big titles to their names. Rayman and wonderful 101 are supposed to hit in september according to that link so maybe they'll see a bump. But that price drop doesn't show up until the end of september after that those games. They should have combined the release to leverage the sales.
I'd say their game problem is beginning to get remedied. Is it enough? We'll see. I think their biggest problem so far has been games and we should have at least 5 big Nintendo titles by then. Luigi U, Wonderful 101, Zelda, Mario, Pikmin with a decent list of third party games. If they don't see a pick up in sales this year I'll be very surprised.
Still, again, this is a year in and is shameful. The Wii launched not only with a revolutionary use of a motion controller that has forever changed the inclusion of system peripherals, but it launched with a more mature-looking version of the Legend of Zelda (not this more kid-friendly version we're getting on the WiiU), Red Steel that was all the buzz at the start, hugely popular Wii Sports bundled in, and a few other titles like Rayman and Wario Ware that was launch in Japan but took a few months to come out. That's day-one. There's no excuse for them not being ready here. People now may be wary of buying it because of its sales performance so far.
I don't think they'll ever pull ahead. Their most optimistic forecast is 40 million units by the end of the console lifespan. I think this will be a down generation for them in which they can spend their copious amounts of cash on the next big thing. They certainly won't go bankrupt unless they start paying people $300 just to take the console and even then I don't think they'd go bankrupt for some time. The best case scenario may just be them making a profit. Right now they're tracking at worse than the dreamcast.
If they really want to make headway, they should make the WiiU no longer bundled with the gamepad. We know it's $140 so you'd be talking a $160 price mark for the system. That's not just impulse buying range, that's people beginning to ask what system they should buy in addition to the WiiU. Just continue to require game developers to support the gamepad function and continue selling it seperately for people that want it. The games that require it should be patched if possible and marked as requiring the pad if not possible. I think that would shock people and turn it around. Demanding people buy a peripheral that doubles the price of the system is a terrible strategy (I'm looking at you too, Microsoft).