game price does not influence my perception about its quality given you have platforms like Steam running 50-75-90% "off" sales. either way, all of this is BS - the product is worth what is your customer is willing to pay. if I am not willing to pay $80 for some super special edition of 8 hour game, I would not pay it but may consider when it gets under $10 territory (and it will). similarly, for me, products like Total War where I played over 1000 hours in Warhammer alone and have a lot of fun, worth pay 'full price' for.
another item here - the cost of development corresponds very little with cost of living unless you are renting out the office somewhere, formally hiring lots of labor ,etc. otherwise, if you think you can develop something for 1/7 (15%) or some made up US cost of production, you may or may not know all of the costs involved. it costs very little for someone to do it in US/EU as well...
and finally, if you want to develop game -> go for it!