Its simple really, people won't buy games anymore. Consider the price points of gaming then, increasing the price of actually playing and owning a game to play out its core value will go up. Parents will be less likely to support paying such outrageous prices, so this will slash lots of the kids out of the market. Other people will simply find other means of entertainment, and not support such things. It honestly wouldn't take a long time for this to hurt a company in the end, and with shareholder pressure, cause a modification of this behavior.
This would really push the line of out pricing gaming, however the gaming community is also to blame for the absurd direction things are going. If people didn't engage in the micro-transactions, weren't so easily willing to part with their money for DLC the industry would not have gone this direction. The fact is that the community went that direction providing that it is a viable business model, and they will push that model as far as they can until it becomes non-viable. To use a economics term, they will find the equillibruim of what they can, and can't do. So long as we green light this, it will happen, so don't just look at the company! If you supported this kinda micro-transaction bull, then you are equally at fault.