I'm okay with this. Prices will go up. That's a certainty like death and taxes.
What it forces gamers to do though is to think a lot more carefully about what game(s) they spend their hard earned money on. I've started doing this a long time ago - I've saved a lot of money by not running out to the shops and buying any and all news games that have just been released. Instead, I earmark one or two really promising titles and then wait and see how they develop. For instance, the only games that are a "must-buy-now" for me are BF3, Arkham City and Forza Motorsport 4. Other games like Deus Ex and Gears 3 will be bought later, when they're on sale or in the bargain bin. Of course, my taste differs to the next guy, and he might pick up Gears 3 immediately and not even bother about FM4. In fact, the only reason why I'm buying FM4 and Arkham City on release day is because I've pre-ordered the collector's editions which won't be available a few months from their release. If we didn't have those collector's incentives, I'd probably wait a few months before I bought them as well - but BF3 is a must have for me since that's the game and genre which I focus on all the time.
It all comes down to priorities. If you can accomplish some discipline in that regard you'll realize that you spend a lot less money on games AND you'll even manage to dodge those titles which looked great in the trailers, but borked completely when they were eventually released (like DN: Forever). If we start to spend our money on games which truly deserve our cash, we'll see developers and publishers releasing quality games again. You can't milk a dead-cow - if there's no money to milk from gamers anymore, they'll stop that and start producing good stuff again, or close their doors.
everyone is just gona milk it before it drops again