Being a PC (ok, more Apple ][) gamer in the 80's I didn't see those prices, but remember buying SNES and Genesis games for my brother-in-law and spending $60 … insane …
On topic, I am being much more careful about buying new top-priced games - not so much for the money as for the fact too often I haven't touched a game before I see it for 20% or more off …
I never had the SNES when it was new, but I remember my mom paying $79.99 for Sonic the Hedgehog 3 when it came out. IMO, it was worth it, because I played it so much that my Genesis died, and then some more with a new (used) Genesis. I have the GCN collection now, but still have that cart, and it still works. The third Genesis... not so well. It locks up after about 15-20mins (on any game, not just Sonic).
So unlike my Commodore 64, which just works, period.
Basically, the only console games that I've had hold up for me have been the Mega Man and Sonic the Hedgehog titles... and Sonic hasn't been particularly good since going 3D. Adventure 1 and 2 would have been decent, had they been playtested at all before release. Falling through floors randomly tends to put a damper on my enjoyment of a game. Past those, they suck.
I have no issue paying for a good game. Stuff that has given me, literally, years of enjoyment has been well worth the cost. I have nearly every game I've ever owned, basically lacking only working C64 disks and some early 5.25" floppy stuff that I don't recall, and I still break out stuff in DOSBox and what I can find for the C64 emulator, I'd say most of my stuff has paid for themselves.
I won't pay for a game that's saddled with a DRM virus, period. I shop elsewhere. Hence buying indies and GoG titles. I'm actually going to buy Witcher 2, not because I ever played the first one or expect to like it, but because the GoG version has no virus embedded in it.