Because of the world being locked down, I got my kids a Nintendo Switch, and I was staggered by the price of games ($60). I hadn't bought a non-PC game for decades, and because my PCs were always old, I would buy games long after their release. As a result, I had come to view $10 as a reasonable price for games, and $20 as the high end. (I believe I paid $30 for Starcraft II, an allowance i made because the original Starcraft was one of my all-time favorite games; it was a bad lapse on my part, as SC2 was deeply disappointing.)
That said, game pricing right now is just weird. As a kid, I paid $70+ for some SNES and Genesis RPGs, and $30+ was absolutely normal. Sometimes in the bargain bin of a game store you might find something for $10, or in a yard sale or whatever. But that would normally be bad games that were quite old, sometimes with malfunctioning media. Heck, as I recall, even to rent a game for three days from Blockbuster was $4.79 (I'm not sure why that price sticks in my mind). With inflation, those prices would be roughly double what they were back then. Of course, you got a box, a manual, an expensive physical piece of media, etc. But I didn't care that much about that stuff back then. Prices are now so much lower than that, and because the curve of improvement of games has flattened, it's not like Ori and the Blind Forest ($4.95 on Steam!) now looks and feels wildly dated. (By contrast, in 1990, a game from 1985 would likely look and feel very dated.) With that in mind, I don't know that I have a problem with higher prices for new console releases, prices that are still historically low, particularly if the price differentiation continues where you can buy a game for $60 on release or $10 a couple years later.