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First of all, games were never so cheap as today. Back on SNES days games were REALLY expensive, just try to compare those prices with, let's say, a Mcdonalds meal from that time, or adjust it by inflation and you will see how less expensive it is today. Games today should be closer to 80 USD.
Second, the fact it has never been this cheap does not mean it is cheap for most people. 60 dollars is still a lot of money for a lot of people. Also back in the day we used to lend games from friends, trade, rent. So things were different.
Personally I think 60-70 dollars for a brand new released game is ok especially considering how expensive it is to make a game nowadays.