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Sephiran said:

Game budgets are mostly about size of dev team plus wages. So AAA games made in California will always cost much more than AAA games made in Poland or in Japan, only because of wage differences.

This and also timeframe; back in the 7th gen to make a big game you'd be paying like 200 people for a year or two of work, now you're paying like 2000 people for like 6 years of work.