Yeah I agree, the potential for a race to the bottom is frightening. However, the way people play PC games is fundamentally different from how they play mobile games. Most PC games provide exponentially more entertainment value and content. Desktop and console games are also much harder to produce. Both of these factors will likely buoy game prices indefinitely, or at least until a quality indie game on PC/console can be produced in the same time and with the same budget as a “quality” mobile game. When our tools and engines get that good (or you can ask the AI in your super computer to make your game for you) then it’s time to worry.
But I’m not concerned about F2P on PC/console. We have already experienced the F2P craze on both platforms and regular buy-to-play games seem to be mostly unaffected, if not on the rise (e.g. look at the decision of games like LawBreakers and Overwatch to avoid F2P). Probably a more dangerous threat are Steam sales. The current sale system, training everyone to wait for the inevitable sales, seems to have done more to erode the perceived value of games on desktop than anything else.