The GameCube was the cheapest console in the last generation and still had comparable hardware. Although it didn't have a DVD player, I'm not seeing why the Wii sold as much as it did if you're going off price alone.
You are right. I should have clarified that price point is important when competing technologies are somewhat good enough. The GameCube was competing with ps2 and Xbox at the time. Hardly equivalent. Think a about it this way: A 33Mhz processor for $5, a 2.6Ghz processor for $199, a 2.8Ghz processor for $299, a 3.8Ghz processor for $1000. If those were your only options for a gift, which one would you pick? At the time, let me remind you, that the GameCube was that 33Mhz like experience while people were playing Halo on the Xbox