Gaming

Game industry is bigger than movies and music combined which was not the case back in the NES era. Game industry has become a juggernaut with a huge consumer target base, and lower barrier to entry that allows for even random people being able to publish games instead of a few larger companies. Rise in production costs has been one that has been self imposed the way some studios go for big special effects blockbusters because they are targeting billions. Meanwhile like with movies you get these indie 2D and last gen 3D looking games being hits right alongside these billion dollar company attempts.

I guess one area you can look at is how niche products get priced lower like mechanical keyboards, and then once productions starts ramping up and things go mainstream suddenly these niche expensive ventures with a few fans becomes more affordable as larger quantities are now being distributed.

You same thing with tech like SSDs and hard drives actually falling price over time while capacities offered grows. Lot of PC parts actually with the exception of GPUs.

Wages haven't keep up with inflation, you need to account for the loss of disposable income since then.

Now compare the inflation adjusted cost of a Model T to a Corolla.

Then compare the inflation adjusted cost of a ~~Model T~~ IBM series 1 PC to a ~~Corolla~~ modern PC.

etc.

etc

etc.

Not every country was playing the NES then. Games on the formats popular in Europe were much cheaper.