Holy crap, you guys pay the equivelent of 90 USD for console games? That is robbery.
Its revenue generation, robbery by another name. Console companies know full well that whatever the mass market says, it will buy on price for something that is put forward as part of the "grass is greener over the hill" syndrome. In the same way that electronic goods are "cheap" in a relative sense and attract near useless warranties as add ons (but in fact the warranties are the main revenue source by design, not the marketed product).
Industrial Gas companies will extol the virtues of their superior "oxygen/hydrogen mix" "amazing aromas for public places", whatever, they'll stuff anything they can into cylinders to attract customers - because their mainstream business is not selling gas (they lose a fortune on that), their mainstream business is renting cylinders .... and in reality should be named the XYZ Cylinder Rental company", not the "XYZ Industrial Gases Company"
So console games have their price "enhanced" as its a captive market, as part of the whole Strategic Marketing concept for Consoles. A market that is unlikely to moan too much as originally they made much to their mates of being in the "brave new world" of consoles, "leading edge", a "trailblazer", and "cheap hardware". Later they discover the game price ..... but you will not hear much about that ....
In terms of marketing and positioning its the same principle as prices of printers and prices of the cartridges to go with them - cheap printer, expensive cartridges. Marketers know full well the owners will not yell about price of ink/games etc as they were previously yelling about the great deal they had (the one the marketer let them have).
The most famous Strategic Marketing concept of the 20th Century, and still survives today, is the infamous "buy one get one free" offer - that one still ropes people in by the multi-million
Never ever underestimate the power and reach of Strategic Marketing campaigns, most of us are in the middle of one without even knowing it. From the Marketers stance, its like watching lambs to the slaughter
Regards
Zy