I get the point you're making. I do wish something would change in the way this business works so that just above average games can somehow survive.
I will say this though... I'm acutely aware that it is impossible to perform qualitative assessment on something as broad as 'production values', but honestly, if Telltale can get away with churning out their $25 games that go on to sell millions of copies, then this game really should be acceptable to the market at the $40 price point.
Telltale newer games are still pretty unique, especially on consoles. The focus on story and characters at the expense of almost everything else is something that only them and, to a lesser extent, Quantic Dream do.
Maybe that's why they succeed. People looking for a game like that don't really have many other options.
I love Telltale game
Anyway, I agree. It's certainly difficult to quantify the "value" of one game, but that's why these things should be discussed both during pre-production, when both the scope of the game and the initial budget get decided, and at the end of production, when one can actually observe the state of the game.
Alpha Protocol was another game that was released to fail. Sega not only stopped Obsidian and didn't let them polish the game, but they released it at the usual 60$ price.
I personally loved the game and I gladly paid full price, but I can't help but think that a price point of 30$ would have helped immensely with sales.