Cheap and fun is very true. I'm not sure why, but even though I have much more disposable income now than I did in my teens and early 20s, I don't like paying $60 for a game unless I'm going to play it a LOT. And considering inflation, $60 for a game now is way cheaper than $60 for a game 15 or 20 years ago, yet I'm hestitant to buy most games "day one retail". I think it largely boils down, for me at least, to the sheer quantity of games I play now versus back then. Back then I would only play two or three games a year. Now I'm playing upwards of 50 or 60 games a year.
I'm more than willing to pop on games like Max, Strider, and Killer Instinct (the last being nostalgia) day one because they're cheap. If it weren't free I would've gladly paid $10 or $15 for Resogun on PS4. And I'm more than willing to pick up a bargain title for $10 or $15 on the 3DS.
It's weird too because I'm willing to spend $15 to go to the movies with my wife, and that's only a couple of hours of entertainment that ends and I have nothing to show for it. So why am I not willing to spend $60 on a game that will provide (on average) at least 10, and often 20 or 30 hours of enjoyment? That $50 barrier is a difficult thing to pass, even though by now with inflation new "day one retail" games ought to be costing over $100 each compared to their prices 15 or 20 years ago had they kept up with inflation. I think if I were still in the old mannerism of only playing a few select games each year, I'd gladly pay $60 at retail and think it was a steal for the amount of entertainment hours I get. But since I'm playing so many games, I'm not willing to spend that kind of money.
And perhaps THAT is the real danger to the video games industry. Not gamers, but games themselves, or rather the glut in the market of title after title. If you actually sat down and tried to keep track of the multitudes of games being released constantly it would make your head spin! Are we headed for another crash? I dunno. I tend to think not. Maybe a retraction, but not a crash. But there are definitely way too many players on the field currently.