I'd be somewhat ok with Kernel anticheat if they would work, but the simple truth is that they do nothing of value. COD has Kernel anticheat with Riccochet and is flooded with cheaters. Valorant has only slightly less cause riot updates Vanguard more often.
But guess what, it usually takes 1-2 days for new cheats to reach the relevant forums, maybe a few days more until they are more widely aviable. At most cheaters have to spend another 5€ every 6 months, but that's it. They don't care, the amount of money spent on accounts every other month is already way higher.
The only two things anticheat like vanguard protects you from is script kiddies that google "valorant cheat .exe" and Linux only players. And the former could just as well be filtered out without Kernel level.
I agree with the first part (not that it should mean they can just extract more money out of us), but the second part is something I simply don't believe.
Don't get me wrong, I know budgets have increased, but the dev cost definitely didn't by remotely the same amount. Devs wages are pretty stagnant since the initial silicon Valley boom and new tools at our disposal have made it a lot easier to create games, be it for indi devs or the corporate giants. Sure, graphics got fancier, but so did the readily aviable stock assets. High end work stations cost maybe a bit more, but they are a drop in the bucket in the 100+ million budgets of today.
What has increased on the other hand is the amount of executives/managers and their wages. In addition to that marketing has gone up a lot, probably over half of most budgets go there. The growing corporate overhead with its archaic structures also eats up a lot.
If we go purely by dev cost, prices should go down since the overall profit would increase with the greater amount of players. Everything else is corporate overlords throwing shitloads of money at a mediocre game to make it seem worth something.