I also think how much you generally have to pay for games has gone way up with respect to the cost of living.

I don’t necessarily agree with you on this specific point (although I agree with the rest of your comment).

Gaming is unfathomably cheap nowadays and the conversion $/hrs is incredible. While yes, day 1 prices are higher than they used to be, discounts are frequent (excluding Nintendo platforms) and games tend to last a LOT longer than they used to. Excluding old-school JRPGs, I don’t remember many games from the PS1 era lasting more than 10/15 hrs. Nowadays that’s the average length for any single player game.

And that does not include the plethora of F2P and live service games that people can waste literally thousands of hours into, free giveaways (I have hundreds of titles on Epic Store that could probably satisfy all my gaming needs until the day I die), etc…

The cost of gaming has gone up only if you are a Nintendo aficionado who adamantly refuses to jump to any other platform and buys all new releases day 1, or a PC master race whose eyes strain from playing games at anything less than 300 fps on the latest NVIDIA card. For any other demographic, gaming prices are fine and more approachable than ever.