I agree in terms of 99% of software out there. In terms of, say, Microsoft, though, I am dubious that the amount of profit on the average 'pro' box is reasonable. Windows, for instance. Compared to the money Microsoft makes on the enterprise level, the home user could pretty much get their OS and Office software for free and not make much of a dent in MS's profits. They have other substantial revenues that could easily greatly offset the price of the average boxed copy.
Just my opinion. Apps like Flash, 3d Max, etc., need to be expensive, because not many people would buy them, even if they were cheap, and they are the cash cows of their developers. The prices of operating systems and other generic software though, should reflect their mass appeal, especially when their creators can make tons of profit without the generic consumer's help.