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Campaigns are 75% of a games budget yet we have games like Rainbow Six: Siege and Star Wars: Battlefront release at $59.99 with the same amount of modes and maps you would normally see in games with campaigns.
So MP-Only FPS Games should either be 75% cheaper than FPS Games with both SP and MP so $15, or they should have four times as much content than the MP portion of an FPS Game with both SP and MP. I could live with either option, but don't try to sell me 25% of a FPS game for $60.
If people are buying these games at $60, then publishers will keep making and selling them at $60.
The ratio of the total budget doesn't matter, its looking at the total budget the game cost along with the quality of the product. It can be disparaging when you do the math thinking:
"This cost x amount less than the y, and they want to charge me the same amount?!"
But the final decision is with the consumer. It's up to you whether you pay them to access their content or walk away. I rarely buy games new, look for the best price and always research enough to determine the apparent quality of the game I'm interested in. My track record is fairly spot on so far. I think developers need to be upfront with their budget and strive to add as much meaningful content as possible.
However the games industry is a business for the most part. It's about making money for the majority so my original statement stands true. If people buy it, they'll keep doing it: And that doesn't make it right.