I seem to remember a conversation that brick stores that sold consoles would stop selling consoles if digital games didn't match the price of their physical counterparts. There are so many reasons a game should not be $70. Look at how fast they devalue. A.I. is also making development cheaper. creating unique 3D environments in minutes, versus a human taking hours or days to do the same thing.
Setting a precedent that $70 dollar games are ok is just going to open up the door for $80 next generation.
Also, thanks for putting your dollar sign in front of the number. I can't tell you how much seeing it the wrong way makes my hair stand up.