When I worked at Best Buy I worked in gaming a lot. Back in the 360/PS3/Wii days games were $50-$60 Canadian. When ps4/one/Wii U came out, the prices were raised to $70-$80. (Then shortly later all new games were $80), there was a HUGE decline in game sales for the company as a whole, and I imagine other retailers like Eb games (Gamestop equivalent in Canada) also saw a hit in numbers for their game sales. If the US raises prices to $80 like it currently is in Canada, then our games would cost at least $100. I obviously can't speak for other people, but I'd end up only getting a very small handful of games per year if I had to pay that much for each one. Imo, $100-$120 is what I'd pay for a small special edition, even then.

I also don't see the industry raising their price would affect much for the content they provide in the game(s). We get games like Spider-man Ps4, Smash Ultimate, Red Dead Redemption 2, etc. for a good price for the amount of play time and content you are offered already. Then at the same time you get games like Batflefront 2, No man's sky, Fallout 76, etc. for the same price and are bugged, bare bone/nothing to do, micro transactions filled games. I don't see how raising prices another $20 would equal a more complete package. It's just companies know that consumers will continue to buy their season passes or micro transactions no matter how good or bad their game is.