There is no specific reason for the high price, but it is either due to high-quality graphics or the economic situation. Forspoken is priced at $69.99 for the standard edition and $94.99 for the deluxe edition.
Forspoken needs about 150GB of free space, which is almost double what it took up on PS5. It was very likely that Forspoken's requirements were high, since it isn't coming out on PS4 and it also uses the powerful Luminous engine. But most gamers agree that they are a bit excessive.