At face value, less people playing = less people buying tokens = less on the market, so prices rise.
My personal opinion? Blizz is lying out of its ass and artificially bumping the price up to make it a controlled gold sink they can set. As I've said from day 1 since the alleged mechanics of pricing were revealed, unless they reveal how many tokens are actually being bought and there's some way to see that supply/demand, Blizz can say the price is whatever they want it to be.