If you think videos games are just tech, you’re wrong. It’s content. And it’s inflation. If video games were stagnated at 64 bit or something then you could say it goes down over time.
Do you also expect sodas to be 25 cents too?
Video games are tech, more so than any other entertainment medium. Many technologies intrinsic to hardware and software generation have gotten better, cheaper, and faster in comparison to prior materials over the past 50 years.
And as competition increases, prices also go down. Reminder, the video game market is larger than ever (again, largest entertainment market), thus the most competition ever (unless you mind the consolidation efforts ongoing...). If we live in reality, increased market competition should cause prices to fall, no?
Comparing it to a consumptive commodity is not accurate; if that was the case, you would compare cost of production and distribution only, which has also gone far down. As stated, earlier carts were each unique engineering attempts to accommodate the game and memory was vastly more expensive then. It's why discs saw the PS1 explode in games while the N64 languished (funny you made that analogy yourself; yes, had we stayed with N64 cart tech it would be much more expensive).
Since things are predominantly digitally delivered now, there is little defining need for price increases outside of the prices increasing elsewhere in the market. It's called the requirement for maximizing profits year over year. That's it. No secret, it's part of every public, for-profit companies charter as a fiduciary requirement to the board and shareholders.
Its up to customers to say no. But they won't. So worthless argument since we're quickly becoming disconnected with reality in terms of the cost of just about everything!