If its not defective, why lower the price on it at all?
And also the benefit of this whole process isnt that they can cripple their strong cards to make weaker ones, but rather they can build their whole range from the same components. Nvidia don't manufacture 770's and if they happen to be defective sell them off as a 760, they manufacture GK104 GPU's and then the 770/760 PCB's to put them in.
If a chip is good, use it as a 770, if its bad use it as a 760. If its good but your selling more 760's than you are 770's, or it just so happens that you don't have any defective chips to use, then just disable the cores.