Yeah, I agree with those commenting that there are two topics here, price of PC hardware and price of games.
I generally get a new PC every five years, and when I do, I go for above-average so that it's going to last. As a graphic designer my livelihood is on the computer, so because I already have a computer, I'm not spending anything extra for the gaming platform. As such, I've never owned a console, and couldn't justify spending the money for a console when most of the games I want to play are available on PC.
As far as the value of the game goes, Bethesda Game Studios is one of very few trusted developers for me where I know that I'm going to enjoy the game and I always look forward to their games, so it's definitely a Day 1 purchase, as opposed to a wait-until-sale-on-Steam purchase. With an Elder Scrolls or Fallout game, I know that I'm going to get hundreds of hours of gameplay ouf of it. In terms of entertainment value in hours per dollar, compare it to something like 2 hours of entertainment that you get when you go to a movie. There's just no comparison.
As far as the cost of physically manufacturing a game, as someone who used to prep projects for replication plants, I can tell you that manufacturing cost is very, very cheap for a box, a game, a manual and the cost of physically shipping those packages. And these days you mostly don't even get a nice box for a standard game, you just get a cheap DVD case - and you're lucky if you get a manual or other printed goodie. I again agree with others here - the cost of the game is the cost of development.