They probably inflated cost to get more cash.
I totally don't believe it would cost that much
"I will not read the analysis explaining in detail where these costs come from. I refuse to believe things cost as much as they do."
Look, I get that it's depressing to see how much modern games cost to make. It has real consequences. This helps explain, in large part, why most companies are becoming so risk averse and relying increasingly on well known franchises. It explains why the number of games being released has gradually but relentlessly decreased. It helps explain why Sony has had such disastrous financial results this generation (and EA, and others). The costs associated with high level game design place intense pressure on how companies and developers operate, and mostly in very negative ways.
I understand that it is easier to simply pretend these problems don't exist, and that these games don't cost as much to make as balance sheets say they do. But ignoring reality doesn't fix problems, and I strongly advise everyone (not just the poster I'm quoting here) to come to terms with the increasing costs of game design and the consequences those costs entail.