Personally I feel like $7-8 isn't an insane price for most of these games, HOWEVER that Nintendo's reluctance to more aggressively discount or spotlight VC titles probably hurts them long term in terms of being able to maximize price stratification. They do discount stuff, but rarely, typically individual games rather than broader sales, and with more modest discounts than most other platforms.
I mean, lots of 1990s games come out on GOG for $6 or $9, and while those prices aren't rip-offs really, they're higher than I'm willing to pay, but relatively frequent rotating sales allow me to buy-in at a lower pricepoint while diehard fans of the games buy in at higher price-points. Ditto Steam.
Sales also help fill gaps in the release schedule. Of course Nintendo has so much content in reserve there'd never be any gaps, but...