Yes, yes it would, but that is nit what Epic is talking about here. They are talking about current-gen styled games found on disc on the iPad, so we gotta go with one of those.
So you want to see Bulletstorm 2 in 6-8 years?
Yeah, I'd say that was perfectly feasible.
The oft-forgotten point in all of this is that the $60 console model ain't exactly looking healthy nowadays. You're either one of the five guaranteed trillion selling franchises or you're risking bankruptcy every time you make a big-budget game. I'd say it's easier to raise prices in the iOS market than it is to keep loading console gamers up with extra fees, DLC and higher prices.
Also, remember when the price of iOS games went up across the board? (59p-69p, £1.19-£1.49 etc..) No, neither does anyone else, but it did happen. It will again.