Well. No. But yes.
I think that it should be far more scaleable. (I'll be using UK prices for these examples, but $60 + Sales Taxes roughly = £40, fwiw. Also, none of the examples take into account the perceived quality of the games.)
ODST comes out, is £35 everywhere, £30 if you shop around. It's a good price; it reflects the time spent working on it, the length of the product, the (slightly) recycled multiplayer etc. That's brilliant. Wet came out the week before, is £35 everywhere, £30 if you shop around. Bethesda only took it on a year ago, and they presumably decided to release it at a lower premium because it was a smaller investment for them, the cost of making it wasn't as high etc. Factor in the short game-length and lack of multiplayer modes, and £30 seems like a decent price.
Modern Warfare 2 is going to be £55 (rrp) because production costs were apparently so high, and the content is great and will last gamers years (theoretically). Many people will see this as value for money, because the producers see it as value for money.
ON THE OTHER HAND: Terminator Salvation came out, lots of hype attached to the movie. It has a 4 hour campaign mode, and that's it. £40 new, terrible sales. Same with Wanted. (This feels like I'm attacking Grin; I'm not.) Mini Ninjas is currently £45, and is selling terribly (apparently). Marvel Ultimate Alliance 2 is £50 in my local shops.
It's all about knowing where to pitch it. I would have/will buy every game I've just spoken about. ODST, I paid full price. Modern Warfare 2, I'll pay full price (having shopped around a bit). MUA2, I would have paid £35. The rest are £20ers (or, in the case of the very short terminator game, less). Had they come out at the price, sales would have been much higher. Instead they've had to wait for the market to flood with second-hand copies, and to drop the rrp and let shops buy them at even cheaper prices.
Seems like a flawed system to me.