1) The "development costs have gone up" is a myth only an idiot would believe. In fact, dev costs have remained relatively stagnant, compared to the total income increase of game companies in recent years. Game companies, with the help of their favourite shills, ahem, excuse me, "game journalists", base this lie on the graphic quality increase, which really is not costing them more money if you actually understand how game development works. Yeah, perhaps a little more for a couple of more texture artists, but that's about it. It is a myth that just because a game has 2x-4x more pixels on the screen or an improved water shader, somehow it costs more to make. But gamers buy this myth, especially kids.
2) On the other hand, the marketing costs have gone up, and keep going up, because now there are more shills. It used to be that only game journos were bribed, but now we have streamers, youtubers, forum trolls and redditors who pretend to absolutely adore the latest game and tell you to buy it, viewbots in singapore to help our shill get more noticed, etc etc. Tons of money to spend, really, for "promotion". THOSE costs definitely have gone up.
3) The income of most game companies has gone way up. The size of the industry kept expanding tremendously in the last 3 decades. They sell at the same price, but they sell far more content to far more people.... Also, with microtransactions and DLCs, games don't really cost 60$ no more. 60$ is the initial cost, if you want the full game, you have to pay for far more than that, usually.
4) Game distribution and publish costs have gone down. Digital distribution and the eradication of manuals have lowered the costs considerably. Quality game manuals, maps, game cases, cartridges, used to make up for much of the 60$ price of a game. Now those things don't exist. Game "journalists" always forget to mention that for some strange reason....
5) Increasing the base price of video games won't eradicate DLCs and microtransactions. This is another huge lie. They tell you this, to make you initially swallow the price increase, but you will see that DLCs and microtransactions will become WORSE, on top of the increased base price, not better. These scum are lying to you.
All in all, i think this generation is doomed, at least for the first few years. It is a global depression, people have more important things to spend money on, they have no money for overpriced 600$ consoles or overpriced PC gpus in order to get pretty much the same games as now, with a few shader effects more and a higher resolution. And they want to increase the base price of games too? Fuck this shit. I could keep playing existing game for all eternity, you can shove the next gen up your ass. I am not even going to bother to pirate your shit, because pirating your shit means i need to buy a new overly-expensive gpu to run that pirated-shit on, and what for? They are the same games of current gen, with raytraced effects. Yawn.
We are fast entering a new game industry crash. Fasten your seatbelts.
