According to the Wall Street Journal, Apple could lower the price of the iPad if the new tablet device fails to sell well.
Credit Suisse analyst, Bill Shope, met with Apple executives recently and confirmed "management noted that it will remain nimble" regarding pricing based on consumer demand. Although the price points of the iPad were lower than many analysts expected it's still possible that the device will not gain much traction initially.
Apple originally introduced the iPhone at $599 and dropped the price to $399 a few months later. Initially there was a backlash from early adopters but Apple sent a $200 Apple credit to those who purchased the device before the price drop.
Reactions to Apple's latest gadget have been mixed. Based on reactions from Neowin commenter's, the expectation of the hyped gadget was not met by Apple. According to a poll of 1,000 Neowin members, 88% said they would not be purchasing the iPad when it goes on sale in March.