And with inflation taken into equation even if we ignore that the cost to make games have gone several orders of magnitude higher the price for the games is lower than they were 20 years or 30 years ago.
It would probably be an easier pill to swallow for more gamers if it was $70 across the board for games, but Nintendo and Xbox are still charging at max $60 for their first party games for the foreseeable future, if not the remainder of the generation alongside other major studios like Capcom and Sega. Causing more doubt in gamers if $70 is actually necessary.
Not to mention the scummy companies like EA and 2K charging $70 for their sports games when they're still riddled with microtransactions. It just causes even more questions as to whether $70 is justified.