Not really. This video focuses on an actual issue ($10 price increase for games) and brings up at least one good reason why games don't need to cost more at launch: That the market is much bigger than in the past and therefore individual games sell more copies than they used to.
Other reasons why games don't need to cost more are the rising number of DLCs and MTXs which provide developers with much more income than the price tag for the base game.
It's a pretty tame video in comparison with the stuff he makes about Nintendo. Of course, this video is still pretty bad, because it spends more than half of its runtime on addressing strawman arguments or things that only a tiny fraction of PlayStation's internet fanbase would say. Can't get by without a good dose of bait, I guess.
Companies don't set prices based on need, but based on what consumers will pay. If people will pay $70 a game, I don't blame Sony. Just like I don't blame Nintendo for not lowering the price of the switch. Why intentionally make less money?