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A fair price will get the game and the developer/publisher much further than a steep price.
Not only do wishlists not equal purchases, its also a fraction of Steams total unique users.
It has about 130 million users and a recent peak record of about 33 million concurrent users.
15 years ago a sales figure of 5-6 million copies for a major release at 60€ was considered a solid start, sometimes considered a failure.
Just to put the numbers into context.
When indies post news about how they sold like 500k copies, then thats incredible for an indie, but its still a very small amount compared to the potential of having over 100 million customers.
See how Capcom often calculates.
Their RE6 release was considered a failure although it sold 5-6 million copies.
Back in the days even on smaller platforms like Playstation (3), a sales figure of 4-5 for games like Uncharted or Killzone was considered mediocre.
Again, just context, ignoring all the other stuff like teamsizes etc.
If only half of the wishlists converts to sales, thats a major success for a one person studio plus the few working at the publisher label.
Also doing the maths, you gain more money by selling cheaper to more people, than more expensive to less.
Especially on Steam, as Steam functions as a social network.
The Rust Dev Garry once said, i paraphrase: "Its important to get as many copies into the hands of people as possible, even for a fraction of its value or even for free."
Because he understood how Steam works.
A free copy you hand to a user on Steam has a high chance to lead to several sold copies.
A few thousands buying at a discount will lead to many more thousands buying at full price.
Sure he could sell Manor Lords now for 100€ a copy, but obviously that would be stupid from a PR and economic point of view.
Placing it at 30€ would probably be the sweet spot to catch most wishlisters and at the same time keep the potential of more incoming.
That's a pretty good guess! Unless modding is a major thing, in which case having the steam workshop could be essential, greatly diminishing the game pass version's value.
I have watched a few videos on Manor Lords and really, really like the look of it, judging by how the game looks, the attention to detail I would say Manor Lords has got to be priced at at least £30 on early access release.
thats really low balling the dev