Granted they are overpriced, but we still have a choice to buy them or not. There are also a lot of costs that go into making the music and movies and tv shows we so covet. If prices were lowered that drastically, so would be the quality. Many TV shows are also available for free on network websites.
Having said that, there is obviously no doubt they want to monopolize the market and charge top dollar, but at the same time they wouldn't or couldn't do that if people were not out there lining up and paying whats told to them to pay. Video games are 60$ because MW3 makes a billion in 16 days. If you're a gaming company why WOULDN'T you charge that much if people are willing to buy it in such high numbers? If the people are willing to be Milk cows as you say, why not let them? That's just good business.
IMO, people aren't willing to sacrifice these things in order to bring about real change, myself included.