There are several factors to take in account.
First and foremost, audience has expanded hugely. Back in the 80 when the price was set, like 1 kid in 20 will be in a family that bought some videogame and developed interest on it. Now is like 19 of 20, and we have much more adults playing.
Also, purchases habit changed a lot with the internet era
As example, back in the 90's I could buy 2-5 games year max, maybe 1 or 2 on discount. And I had no idea if thery where fresh releases or had been going around for years. Nowadays I could buy like 10 more games, but most of them with huge dicounts on sales or bundles, and I'm only getting a full price, just released game like every couple years. Seems to be like I'm expending a little more, and sharing that between more companies.
Nowaday videogames move a lot of peaople, heck even a "industry" has been built around. There is lots and lots of money around. That creators are being underpaid has nothing to do with lack of money. Is just the same inmoral (from my POV) scheme that we have on music or movies industries, where corporate can run with the money and declare loses.
And last but no least, really funny complaining about no price increase, from my point of view (Spain) wages had been stagnated last years. Even it seems to be there is data about House, transportation and food had been rising. Tough not everything has been: electronics or communications became lot cheaper in proportion.
There are lots of other valid points around the comments, no need to expand this. Yes there is competition. Yes lots of companies cannot thrieve. But the same happens around every market, so it is normal. What we should be worring and discusing about is the conditions of the workers: Remember one day maybe you end up in one of these works.
Well...
That seems perfect for corporations.
It could be added to the Bluecoat and Evil Corporate Proxy to maximize employee frustration.
Gosh that takes me back... or is it forward? That's the trouble with time travel, you never can tell." -- Doctor Who, "Androids of Tara"