Triple A games keep pushing 3D graphics as if they are a Hollywood level production.
3D graphics make the game look more pretty, but they are not required to make the game more fun.
I have no issue playing a game that has graphics needs only a potato to render well, if the game is genuinely fun to play.
There are indie level games out there made by just 1 or 2 people that are tons of fun to play, I don't even want to imagine just how many people were involved to make GTA 5 or 6.
While I don't want anyone out there to lose their jobs, there are a lot of factors out there for maintaining a company that makes games like GTA, but you can always look at how much money goes into the company and after you take care of everyone's paychecks and benefits, and start to look at how much it costs to keep the company itself running, just where does the rest of the money go?
For something like GTA, you can try to figure out just how much money is needed to actually develop the game plus just how much of a cut the higher ups like the CEO takes.
Personally, I'd rather take a closer look at how much the CEO takes home before considering raising the price of a already expensive game.
Because its just my own take on the matter, but I feel that when someone at the top of a company says "I think our products are too cheap and people can pay more for it" its because they want to take home more profit.