That'd be a nice gesture, but...
1) I'm on the fence of whether Apple will actually do this. On one hand, you do have this sort of news. OTOH, whenever a "whale", or otherwise large amounts of IAP are purchased, Apple gets a 30% cut of that. They don't have to lift any additional fingers and they get all that free money. It's hard for Apple, and any other corporation to say no to that
2) Putting hard caps on how much users can spend is a big "no no" if they want to stay in business. Never mind that some of these can be half decent (although TBF, I've only played 2 freemium games for extended times... Castlestorm: Free To Siege (which contains the word "free"!), and Plants Vs. Zombies 2: It's About Time, and I quit both after about 5 months and a few years respectively), but if #1 is something that Apple would like to keep around, then they want these devs to stay in business so they get revenue from that.
3) Apps like Facebook should also be under the same scrutiny then. You mention "casino like tactics"... According a TED Talks video, social media companies like Facebook have hired actual people who created slot machines for the casinos. They most certainly know a thing or two about luring in users and keeping them hooked. The speaker for that person even compared apps like the Facebook one to having a slot machine in your phone.
I totally understand that it makes no sense as a business decision, but I am only talking about the extreme cases. You are totally right about apps like Facebook, but wasting time is one thing, but wasting money for most people is more devastating. On Plants Vs Zombies, there really isn't a reason to spend $1000s of dollars, from what I can tell (I only played it for a week or so). Some of these games lure middle class people into spending $1000s of dollars, and the way it happens is very gradual and deceptive. I've lost money on the stock market before with options contracts (so I know the feeling of loosing big) and the feeling of spending money on some of these games feels the same way once you look back on what you spent after a few months or a year. People who never played these games are quick the judge, but once you click download (or get) and open, you are facing a product that was masterfully designed to suck as much money as possible from you by thousands of professionals who work day and night just to "get you".
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That is just your opinion. Let the market determine what sells. Cars, soda, airline tickets, etc.. many products are sold with variations of features and prices.
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Consumers do not need to be enticed. The problem is that Apple "allows" things. And you let them do it.
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Wow, what a socialistic perspective. It is amazing how you are recommending restrictions on the freedom of consumers to choose to live their life as they see fit. Why not limit how much Apple can limit? That would fix the problem of this entire monopolistic ecosystem.
Than we are socialist for having an age limit on alcohol and tobacco? How about gambling? Why isn't that legal everywhere?
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But what if you are able to go through all the content of said app, and utilise it for your purposes, within a few hours, let alone 24-48 hours - you'd get it all for free.
I may need to just edit a PDF, or spreadsheet, or just pass some time while on a flight. I just download the app freely, use it, discard it. Doesn't seem fair.
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So you want to adults to transfer the responsibility onto the developers - and in the process affect everyone else - why?
If you can't control yourself/your children with an in-app purchases, that is your fault.
You're so quick to judge. There is a reason gambling isn't allowed in most places. There is a reason tobacco and alcohol have age restrictions. Having casinos a tap away accessible to everyone (any age) everywhere is just pure evil.