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Watch Jim Sterling's video on it. Pretty much sums it up.

The reason 60 dollar games stayed 60 so long (allegedly) was due to micro transactions making up for losses. So people always said, and this makes sense, raise games to 70 or even 80 dollars, but give us complete experiences not designed to nickel and dime us that are riddled with microtransactions with artificial grind. And if this were the case, I would welcome to change.

But this isn't the case, publishers known for nickel and diming will keep doing so, and just see the price hike as a chance to make more money rather than to make up for increased dev costs. And if you think they would trade that micro profit for increased "entry cost", you are lying to yourself.

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