sigh
Yes, I consider an ebay listing at that price reasonable.
You are making your stance from an unreasonably high horse and are essentially telling a lot of people that they aren't deserving to experience something simply because they might be too poor or they weren't around at the right time. If a game is no longer available or was released in such a small quantity that the only available versions are ridiculously marked up aftermarket sales, I fully expect the people responsible for the games would rather someone 'pirate' the game than not play it at all. Games are art and the creator would rather more people experience and not let something arbitrary like scarcity prohibit that.
I guess we should remove all of those historical texts from the public domain. Physical Editions still exist, so they are still reasonably obtainable in your eyes. If you can't afford to get one of them you don't deserve that frivolous entertainment.
This is an incredibly grey area that is developing as we are progressing from hard copies to digital media and the landscape is changing, but viewing it from the rigid structure of the hardcopy days like you are doing is incredibly shortsighted. I predict this will be an ongoing battle going forward and I don't know where the landscape will finally settle. I honestly hope for something sort of like a digital library. Pay a charge and 'rent' a digital game for a period of time. Sadly, there hasn't been an official attempt at doing this because it would be a massive undertaking and copyright laws for digital media are still a bit awkward as we continue to shake of the shackles of physical media. In the meantime, enthusiasts are the only reliable source of digital versions for many of these games.
If you can get a game for a console you still own for +/- 10% of it's original sale price, then I think you should pony up for it. If it's an obscure game that never existed in your region or had a very limited run at the end of a console and is only available for twice the MSRP on eBay then that's absurd.