Assuming you live in the US, that means you payed $60 (plus tax) for 100 hours on entertainment. That means you payed ~63 cents per hour of fun. If you think about it, that's already really cheap entertainment. A movie would be like $6 an hour. Going to a water park would be like $4/hr. Eating at a restaurant with some friends would be like $9/hr. These are all just estimates but it perfectly illustrates my point.
I think you're using a different metric for value than most here would agree with. Don't tell the producers, but I happen to think $60 for a TES game is far less than what it's worth. But that's assuming I can play the entire thing, see all the points of interest, get all the unique artifacts, complete all the quests and develop a complete story and life around a single character. At 70-100 hours I'm only just getting started!
I think I'm not alone here, but I'm paying for a complete experience; a whole world that I can interact with and live in. It's not about how much each hour costs but it's about how much of that world can I get before the game stops working, and 100 hours is NOT enough. Not even close.