Is it though? IMO video gaming is fine, in a great spot, even. Consumer prices have stayed (unreasonably!) cheap for decades and especially the indie market is thriving right now. I remember paying more for games 15 years ago than I do now.
But I primarily play indie titles on Steam (currently Silksong), so that might warp my perspective.
Regarding commoditized nostalgia: I don't think pricing is that unreasonable. For instance, I'm pretty happy with the current state of Age of Empires 2.