Priced for the rental market. Pre-DVD (and the last dying days of VHS), the only tapes that were priced for the sell-through market were those 60 minute clip jobs that they did for people like Bret, Hogan, Michaels, Undertaker, etc.
$60 - $100 was actually the norm for non-kids films all the way up until the VHS market became a minority. Those high prices are what almost made direct-to-video films a thing of the past in the mid-90s. It's thanks to the invention of revenue sharing programs that they recooperated.