Even though the price hasn't changed much in years, we sometimes pay more than the standard for the games we like. Most games I play after price cuts, others I pay full price and a for a few I pay collector's edition price. There are even others that I pay for DLC.
So, the same game that I buy for $40, you might have bought for $100. So the devs lost $20 from me but got $40 more from you.
On top of all that, we all have to pay for online access and some pay other subscriptions too. So although I don't pay full price all the time, I pay for online access and PS Now, things that I didn't have to pay 15 years ago.
I don't think anything good will come from a new higher standard price. Many will be cross and will end up buying after the price cut anyway. Cinemas for example had their prices up because they sell theatre experiences. There's no way for the consumer to get round it. Although gaming is an experience too, it's still wrapped as a product. Devs would have to agree between each other to put the prices up, otherwise the ones who try might have to face consumer anger.
That might explain why subscriptions are popping up everywhere.
Having said that, I'm not sure development costs are that high, when many devs use frameworks and tools that bake a lot of what they do. Also, they reuse a lot of features and resources from games developed during the same generation. It's obvious that games like CoD and FIFA are not that complex to develop once they build the first of the gen. I wouldn't be surprised if sport games are all about adding new characters. Currently, from PS3 on, the difference between the old and new gens are not that big in terms of raw software development (I mean the same dev tools will run on both PS4 and PS5). It's not like the huge difference between making a game for PS2 and PS3. Back then, there was also the problem of porting which today is far less complicated if not plain easy to do.
I can see the huge cost of a GTAVI, but this is an exception and they'll obviously make a lot of money as usual. Most games are not like that. Nintendo games like Mario and Mario Kart as well as the recent example of Death Stranding show that developing current gen games are not that complex. It seems to me that Death Stranding was just the work of a quite medium-sized team working on a very resourceful framework. A game like Mario Kart must be piece of cake and I doubt they have to employ an army to pull that off.
Anyway, my answer is no. Keep it $60.