Only if you are spreading that value out over time, which isn't how people make purchases. Sure if I go to several movies a year, that is going to cost the same as a PHB, but each individual purchase of tickets is a small cost. The cost to buy D&D is not 60 just for the player book, and an additional 120 if you want the full game. That is a large initial purchase. I could buy a musical instrument for that and get just as many hours of use out of it maybe more. I could buy Monopoly (also made by Hasbro) for 20 bucks and get just as many hours of use of it. Also D&D is a game that keeps releasing editions every 8 years or so depending on how you average it out, so there is an initial cost, then there is an expected need to buy the books again when the new edition comes out. Contrast that with my weights, which I use because one of my forms of entertainment is exercise and they are all one time purchases that have lasted over twenty years so far.
I am not saying people who are willing to buy a 60 dollar book are shelling out excessive amounts of cash. But I do think this idea that the 20% increase isn't going to be a problem for some people is wrong. And I think people aren't understanding what budgets mean to a lot of households