There was mention a while back by I think a financial person related to the gaming industry who stated they needed GTA6 to sell for $80+ in order to set the new baseline for all games so game companies could start charging more to make more money.
Personally, I think game companies should charge what they want for their games as long as they're willing to accept the impact (good or bad) it has on their games.
The same goes for the console system price increases due to price increases in RAM and storage in the market.
Rockstar has the advantage of having one of the few games that will sell no matter what they charge. GTA, Mario and Zelda games are so popular with gamers they could get away with charging even more with a lot of them..
That said, I have no intention of paying $80+ for a game when there are way too many games out there already that I have not played that are much cheaper or in my library waiting to be installed.
In the end, if the game companies are happy with the amount of sales they get, then they were justified.
If not, then they'll either lower the price and hope for a second chance or they'll learn for their next game hopefully.