The LEAST they could do is nothing. You are not entitled to anything. Not one dime, not one game. You wanted a handheld that cost $250 or the equivalent, you bought it at that price. You got what you were paying for. If that's not enough in retrospect, you have nobody to blame but yourself.
Yes, they absolutely could. People would be upset, but they abso-fucking-lutely have the right to set their MSRP at whatever they want and change it whenever they feel like it. Hell, they can start giving them out for free and you still wouldn't be owed anything.