1) You make a great game and thus you create a big fanbase that will probably buy your future games
2) You make a mediocre/decent game that has lots of microtransactions
The downside to 1 is that you might be holding back, you could possibly make more money
The downside to 2 is that you might piss off a big portion of your fanbase and thus you could lose profit in the long run
Anyway, I think many game companies have gradually shifted to option 2, and I wouldn't be surprised if we're going into a new videogame crash because of it.
Many of my friends just don't bother buying any game anymore, just because it's too expensive. Even free to play games are expensive if you want to be competitive.
And then there is the overpriced new consoles coming out while the PC only gets ports.
Yeah, I really don't see a bright future ahead for gaming if this continues much longer. Which company was it that was raising the normal established xbox or playstation game price by 10$? Yeah, just because a game is popular doesn't mean you can charge extra and get away with it easily. It might gain you some extra crash, but it also hurts your image. And image is a way to make money as well.
I think greed in the videogame industry might hurt the them eventually. Especially since they're raising prices of everything while many people aren't in such good financial situation anyway.
But I agree with the OP, microtransactions exists because people use them. It's as simple as that.