According to a report by a media outlet, game company Sony Interactive Entertainment at one point had made plans to make upcoming next-gen games to be more than what is priced now.
According to insider @Nibellion on his official Twitter account, Bloomberg reported that SIE had plans to price their games even higher than $70. Many other publishing houses had plans for that as well and SIE was no different. They point to inflation and the increasing costs of developing triple-A games, which made sense as a business.
The game executives who made the suggestion actually requested for anonymity because they know that this move is quite unpopular. As a result, not all agree with the new pricing and it will vary by title and the company who publishes the games.
It is a good thing that they settled for $70 max for the increase, at least it is not that expensive. In my opinion, this is far from over as those reasons like inflation and costs are still increasing to this day. Hopefully, it does not turn out that way in the near future.