Well, as long as it lets Sony keep funding outstanding first party titles like the next TLOU re-release, the next Horizon re-release, or the next TLOU re-release, I think it's pretty easy to justify the price increase. /s
In all seriousness, I expect we'll see price increases like this across the board soon enough, with everything from Game Pass to Spotify taking advantage of the economy chaos coming out the US to jack up their profits.