While you're not wrong about pushing a bunch of recycled crap in a lot of cases, you're just plain wrong (TM) on prices. The price of games has been falling for decades when you adjust for inflation. The average retail boxed game has cost:
1985: $35 ($110 after adjusting for inflation)
1990: $50 ($125)
1995: $60 ($125)
2000: $60 ($115)
2005: $60 ($105)
2010: $60 ($95)
2015: $60 ($85)
2020: $60 ($75)
2025: $80 ($80)
As you can see, the "$20" price increase is rather more modest when you account for inflation, and is a *long way* from offsetting the drop in pricing that we've seen over the past 3 decades. The games industry, unfortunately, can't survive on expecting the base of players to continuously expand, like it has in the past. If they're going to pay all the people working on these games, they genuinely do need to keep up with inflation now.