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Maybe that helps? (Not claiming this is 100% correct, feel free to prove me wrong if you've got other numbers).

Download games are expensive because of the industry's dependency on retailers. If they sold their digital copies for half the price retailers wouldn't sell any games and therefore stop selling gaming related stuff. Hardware manufacturers need retailers though - because of hardware sales. They can sell their games digitally but not their hardware therefore retailers are needed. (Of course the other stuff that's been said is correct as well - but this is a major point too and shouldn't be underestimated).