I think they are too expensive for what you get. I remember being a kid and collecting baseball cards, and you got like 60 of them for $0.50. Not quite the same thing as CCGs, but using baseball cards as the example, now they're like 20x as much and you get 1/5th of the cards. Sure they're really shiny now, but who cares?
I can't speak for Vs., but in the YGO world, when we went to 60 card sets, the price and the number of cards in each pack should have dropped. I think the cost is more of a problem due to the WASTE involved. If I paid $4.00 for 9 YGO cards and could use 8 of them, that's a heck of a deal. If I pay $96.00 for 216 cards, and I throw away 200 of them, that's stupid (and about right, unfortunately).
My main beef with the price is that Upper Deck (ESPECIALLY Upper Deck) is full of horse hooey on the distribution of the 'money' cards. I challenge anyone to show me that it's really 1:24 for Ultra Rares. I've opened a LOT of cases of cards (all sealed) and I know a lot of people that have done the same, and there are 10 Ultra Rares in every 12 boxes on average. That's 1:28, and it significantly changes the pricing model. [Note: the Super Rare distribution in YGO is also whack, but in the other direction -- they're really closer to 1:5).
(Talk about a tangent rant, huh? LOL)
Summary: I would leave the price alone, and make the contents of the sets more worthwhile. Far less waste is needed, trees are saved, and customers are happier.