This is an interesting way to hack.
Now, while I don't want to justify it, I can begin to comprehend why they do this.
I live in Mexico, so I don't know the whole situation, but I can relate in a sense:
Let's make a random, but real life example:
Gameplanet is an equivalent to Gamestop in Mexico. Most of the time, you can get new games there for a (relatively) good price. There are, of course, several other ways to get them, sometimes cheaper, but for the sake of this, let's use it for our example, as they are an established business with little to no varying prices.
http://gameplanet.com/bloodborne-ps4-17243.html
Bloodborne (PS4) is worth 850 MXN (without shipping). Which is about 55 USD, in a good day. The price is equivalent, if not cheaper, to a PS4 title in the US. In this case, there's not really a problem, right?
I make 1250 MXN a week, which is about 80 USD. I have a half-time job, so my pay is about half what I should earn, but still, it's a relatively high pay for what I do.
And there's the problem.
A new game costs two thirds of my weekly salary. Of course, a game is a commodity, not a necessity and, like most, I have other things I need to take care of with my money.
Now, here in Mexico videogame piracy is widespread and often accepted and encouraged (not by distributors and authorities, mind you). PS2 was the winner of the console wars at their time because of how easy was to pirate games for it (You could buy 3 pirated games for it for 3 USD), and the X360 was the winner of the past generation for the same reason. People find way, way cheaper to buy the console, pay 30 USD to "chip it" and then buy 2-3 USD games when they want instead of paying 30-50 USD per game, especially in middle to lower class households (keep in mind that Mexico's lower class' earnings are way lower than US lower class')
There are lots of other factors in the comparison, too. I'm not completely aware of the economic situation of Brasil compared to Mexico or other countries, but what I'm aware of is that the videogame prices situation in Latin America, especially in Brasil, is way worse than what it is in some other parts of the world.