There is a reasonably safe minimum bar set in place for things that could be dangerous or unhealthy. Food in particular is watched closely. It is one of the great benefits of living in a first world country. In other fields of goods, most customers are willing to pay a premium for products with the brand name backing up the quality (Apple, etc)
On the other spectrum, the concern that we're devaluing the market doesn't exactly hold as full 40~60 dollar games are selling just as well despite everyone's concern 3+ years ago that cheap dollar apps will completely ruin the shelf game market.
tldr: I think we'll be just fine.