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Having a high initial price makes the "value" of the game increse. You imagine you make a bargain when you "only" pay half that price. When the price falls even more the game lands in the bargain bin, and even if it is very cheap compared to the initial price your interest in it is mostly because of its "high" value.
In the movie bargain bin there are a lot of former blockbusters but as the price has not gone down that much (in percent) you tend to dismiss these former masterpieces.