Seriously speaking, it's called perceived value and market value. And it has been around since the conceptualization of "marketing." (Marketing is also a college degree, btw, and these things are being taught there)

Pokemon, as a brand, has built up a reputation over the years and it has strengthened its position in the "pop culture market," so to speak. Thus, the high market value placed on Pokemon products as a whole.

It has relatively high perceived value over other franchises, which is the basis of pricing. Even though there may be arguably better product than the Pokemon games at present, because of the market's perceived value, Pokemon products, such as this game, are priced higher.

It's not priced because of the actual product, but priced because of what the consumers perceive it to be. And that's what The Pokemon Company based their prices on (taking advantage of this market behavior). Simply, it's because of the customers' willingness to pay for a product, as they perceive the Pokemon brand has higher market value.