It is my personal barrier yes...nor am I alone though...look at the history of console pricing...
360 $299
Wii $249
Xbox $299
PS2 $299
GCN $199
Dreamcast $199
N64 $199
PS1 $299
SNES $199
Megadrive $189
NES $199
The anomalies in history are PS3 at $599, Saturn $399, Neo Geo $649 and 3DO at $699...and they all bombed at launch.
There is a reason that you don't go over $299...it's historical a precedent has been set...to break down the $299 will take something special and Sony tried by converging different technology but it only worked for the PS2. The perceived value of a console has not shifted from generation to generation...and we'll continue to want our console's at $299 even if it's the basic and gimped version.
How do you explain the jump from 199 to 299 then? As time goes on prices go up, everyone understands that with inflation. So 6 years after the previous batch Nintendo thought it was ok to go up 50 bucks. I think it will be fine.