Remove blu-ray and they "drop" to taking similar amounts of losses as MS.
And the cost I'm referring to takes into consideration things like some people expecting 4-8GB in a console even though current densities make that a big financial hurdle.
Also, consider the fact that the Wii U won't be the only console having to deal with the added cost of an expensive peripheral (the uPad). The next Xbox is definitely coming bundled with Kinect, for example. Factor that in with Microsoft not wanting to take an extreme initial loss on hardware and launching at a more casual-friendly price, and I could easily see them launching a console close to the Wii U in power. especially since they know that would leave Sony the odd man out if they go for all-out power again.