I see what you are getting at now, I'll try to answer to the best of my understanding.
That's very subjective, quite true, but subjective none the less as even though you may stop purchasing it does not mean others will as the publishers are also doing a certain amount of market analysis and know who their target audience is. There's lots of young people who are experiencing gaming for the first time, then there's other parts of the world which are becoming more and more developed and starting to become part of the target market.
In reality, well my opinion, as the market is increasing the publishers are seeing that by reducing prices they are able to tap into a much larger market and in fact their revenue goes up on the whole. Having said that, you are assuming that a less expensive per unit value may mean lower quality or less dedication from the designers. This isn't entirely necessary as the new demographic being introduced is going to be the lower income/less developed market and therefore the lower value should be considered just as valuable to said segment when seen relatively so they will not give up that money that easily either.
I believe what is really happening is that as the market matures the cost per unit has fallen, especially in regards to digital downloads. Meaning publishers can charge less without noticing any drop in revenue, though I understand that this was not your point as such, what you are getting at is that the market is leading to a more standardised, almost monotonous, product that simply will not appeal to you. The key word being you.
I actually completely agree with you on that, though I do not believe the standardisation of the gaming industry in terms of the annual cod and battlefield games is down to the price being charged. That aspect of the market, in my view, is actually quite separate from the economic reality i.e the cods games are what people want and the prices being charged are due to the equilibrium of market conditions, product quality is also important, but it is market forces that dictate price, not just game designers.
Regarding the paradox of choice. Again, as explained above, that dilemma, if I may call it that, is a luxury only a small number of the target market will enjoy. Most people will not be buying games just for the sake of it but only a very small number. Also, in the long run, choice is good as it leads to competition and a such an improvement in perceived quality. What you are arguing is similar to the argument of free markets vs closed markets, it's a step backwards to take away choice.
Lastly, reprieved value. Value is extremely subjective, and in many ways the whole basis of this conversation. Your idea of value is based on your current disposable income, and how you saw the world when you were younger, and felt about games. You see the world has changed, when we were younger gaming was more of a niche and a luxury good, hence the higher prices. What I'm trying to say is that just because we have more choice, more products, doesn't mean the products are any worse, but just that we have to make better choices and it'll cost us less.
It's actually good for the average gamer as there's more choice, it's also true that this means that much more generic dumbed down games effecting the population, and it would be accurate to say this is a negative outcome, but in the end it's down to our choices and we just have to choose the correct games and they'll even cost us less. It's a simple matter of making the right choices and giving people the opportunity to improve themselves with their own free will.
Edit:
And to sum up where the market is leading in terms of quality when buying the usual 'franchise'. I actually do indeed hold a similar view in regards to declining quality, however, there are times where I feel that view is not justified. For e.g. I have owned battlefield 3 since it was released and I was so dead set on the view that the single player component will be the usual generic campaign that I never even tried playing past the first section of the game. That was until yesterday, then I saw (and played) the following. When I was younger, and games cost more, I did not play or see anything that came anywhere near this level of quality. I might not be paying as much per game but when I see quality I sure do value it.
Battlefield 3 PC DX11 (Max Settings) Jet Fighter Mission HD 1200p
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