This "explanation" is so BS. The reality is that AAA games' budgets have exploded. Art assets are exponentially more time consuming to develop as you increase the level of fidelity linearly. For a benchmark example consider the costs of developing the GTA games. The cost of developing these games have primarily been absorbed by AAA gaming becoming a mainstream hobby; i.e. a broadening market. But when this isn't enough, AAA developers have to resort to pricing tactics and Games as a Service tactics to better monetize their product.