Literally every industry is trying to get as much money as possible. That's the point of business. And, yes, the video game industry has given us a great example of self-regulation. You may not remember, but there was much whining about violence in video games in the early 1990s. So, the publishers formed the ESRB to rate games.
If government gets involved, what we'll see is a prohibition on loot boxes. But, games won't suddenly cost less money to make and market. So, the lost revenue will be made up elsewhere. How does that help anyone? Right now a big chunk of that money is paid by people who enjoy buying loot boxes. After regulation, those costs will be paid by every gamer. Nobody gets to enjoy loot boxes, but everybody gets to pay. No thanks.
More importantly though, people buy and play games of their own free will. If one doesn't like loot boxes, one should not buy games that have them. Whining to government to remove them from games is just a cop out. Gamers (and parents, in many cases) need to take responsibility for their actions (or those of their young children) and not try to ruin the fun for the rest of us.
Film studios make way less on movies without far bigger budgets to recoup to boot yet you don’t see them do shit like charging extra to see the ending, now do you? Because that’s essentially, no wait, that IS what game developers/publishers are doing with their games and a whole lot more. If companies in any other industry did this shit, they’d be in fucking jail, yet somehow they get a pass. No way should any gamer worth their salt just blindly take their scummy business practices lying down. If they don’t speak up, the terrorists have won.