The TI-8x calculators are not outdated; they do exactly what they need to do -- no more, no less. This is an important fact! If they did much more they wouldn't be allowed to be used; if they did much less they wouldn't be useful.
However, that's not an excuse for them continuing to cost $100+. There should have been an opportunity for some competitor (e.g. Casio or HP) to use 2014 technology to deliver the same capabilities with less manufacturing complexity and thus a cheaper price. Apparently, Casio is trying this, but they're not being aggressive enough: if Casio beat teachers and parents over the head with how cheap calculators should be by selling theirs for $25 or so, then IMO they'd be more successful.
IMO, a worthy "update" to a TI graphing calculator would not be more RAM or a faster CPU, it would be power envelope improvements so it could run on solar (like a 4-function calculator can) and a slimmer, lighter body. (Of course, these days I just use a TI-89 emulator on my Android cellphone instead, so I'm not the target market...)
Incidentally, the other thing I don't understand about this is why anybody picks a TI-84 when they could have a TI-86. TI-89s are prohibited for standardized tests (because they have a Computer Algebra System), but TI-86s aren't and are better than TI-84s in every other way as far as I can tell...