Publishers decide the prices and they'll price the games based on how much they believe consumers will pay for them. If SE price FFVII at $10, it's because they believe people are willing to pay $10 for it. The only way they'll reduce that is if people aren't buying it at $10. As it's still $10, it seems people don't mind paying.
That's the price of nostalgia if you will.
Oh, and the only way free 2 play models work for publishers looking to actually make money:
1. Micro-transactions
2. Subscription which gives in-game benefits
3. Pay to proceed where the free game is effectively a demo
4. Adverts
5. A combination of the above
Bit hard to implement these in an old game, and more likely to generate negative PR than anything.