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Ruler said:

where do you know production costs have sky rocket? It could be the same if you count inflation.

All the games you have listed were first party exclusives by the way, you compare wiiu mario vs super nitendo mario and ps3 gran turismo vs ps2 gran turismo. Those games came out in completly different time and market condition for their platform 

Because no matter how much you fiddle with inflation, the development of the original GTA cost DMA design 380,000 usd, the development of GTAV cost over 180 million.
Budgets are on average, 40-50x higher than they were in 1997, because the production of assets costs more for higher resolution, more varies assets, music licensing and larger teams to handle the greater level of detail needed to fill the worlds.

I suggest, if you are going to try and argue your point any further from here on out, you do a little research on the subject, or at the very least, consider that you are discussing it with someone who has been an active games developer since the 8bit era for major studios.