The increased population growth means that an event that had to be affordable for a median income, now needs only be affordable for a 75th percentile income. Since median household income is around $68k and 75th percentile is 122k. A 75th percentile family can spend $50k on season tickets for a sports team, and still live an otherwise median income lifestyle.
If wealth inequality wasn't so extreme, then such large price caps wouldn't be economically viable.
The increased population growth means that an event that had to be affordable for a median income, now needs only be affordable for a 75th percentile income. Since median household income is around $68k and 75th percentile is 122k. A 75th percentile family can spend $50k on season tickets for a sports team, and still live an otherwise median income lifestyle.
If wealth inequality wasn't so extreme, then such large price caps wouldn't be economically viable.