These days, for what we are getting besides the odd elden ring. I'd say yes they are.
But there's more to this than just "game cost bad grr". The global economy is in disarray, then you have international situations, that's why steams regional pricing is beautiful, at least for us in South Africa, steam games are substantially cheaper, and that's without getting into keyresellers and so on.
To make a long story short, they are overpriced, but you could argue they always have been or they aren't priced high enough, it's the current financial situation of the globe that's causing shit.
When I first started earning a salary. A new console game was R900.. that is roughly close to $60. At the time it was like 15-1 or so... a brand new game on console for me now is R1400-1500... keep in mind the exchange rate is 18-1 now, we are getting pretty fucked here.