ME and M prices
No. I think it is likely the M-E would be discontinued before they lowered the price by much. The M-E was specifically created as the M9 replacement camera using mostly M9 parts to sell at a lower price point against the new M at the same original price of the M9.
I can't speak for anyone else, but the distance from $5,450 to $6,950 (USA pricing of course) seems quite substantial to me. I'd have been happy to save $1500 when I bought my M9; I bought a certified Leica USA demo model to save $750.
(I do remember when Rollei had three versions of the TLR on the market that were differentiated by $35-$50 for the price conscious ...!)