For me it's mostly how much I think I'll enjoy the content multiplied by amount of meaningful content. When it comes to MKW, that $50 for digital version in bundle seems about right, to me at least, but I would have no problem to pay way over $100 for games in some very specific niche genres that I know I will play for years on fairly frequent bases.

I generally don't spend money on games. I buy second hand games for my potato PC for peanuts.
That said, if I didn't have available my absolute favorite games, I might be willing to pay 100-150€ to get my hands on them.

Obviously I don't care about tech or resale value. Nor does amount of content matter, as I do value good simple games or short ones that I enjoy playing again now and then.
While how much I enjoy playing is one major factor, I maybe even more judge games by how I feel about them afterwards. Some games that aren't really enjoyable to play still leave you nostalgic for some aesthetic or story elements, so it's not all about the gameplay. Standing out among all the games I've played goes a long way.

I no longer pay more than $40 for a single videogame now. No game is worth more than 40 bucks, but that's just me. I decided on this when I started noticing I was having more fun with 10 and 20 dollar indie games than I was having with big-budget triple A games. So I decided right then and there: 40 dollars is the most I will pay for games anymore, and that goes for everyone: That goes for Mario, that goes for Final Fantasy.

And as a side note, I don't pirate and I don't buy used.  I care about the industry and want to support it, but I'm not going to be ripped off either.  I have no problem waiting for deals and price drops.  Just picked up Super Monkey Ball on Switch for 30 bucks on Amazon.

The value of a game is not likely determined by any singular factor like "How much I personally enjoy it" but would also include multiple additional factors such as "Amount of content" or "innovative features" and more.

Unfortunately the poll forces us to take a singular option which isn't an accurate reflection of what I feel makes a game have intrinsic worth.

Thus I opted for: "How much I personally enjoy it" as the primary reason, but cost, content, features are also other significant attributes I weigh against a title as well.