I won't pretend I understand collector mentality whatsoever. That isn't to say retro games aren't amazing, but isn't the experience the game rather than the packaging? Maybe if you consider the packaging as limited supply original artwork by an iconic painter, the price makes a little more sense. Either way, seems wild to me at that price.
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Its the same for any type of media, the inherent value of the original vs. the practicality of a reproduction. I can buy a first edition of Bram Stoker's Dracula for several thousand dollars, or I can download it to my Kindle for free. One is very limited while the other is infinite, even though they're both the same product.