Rising Rates

The rates have greatly risen especially with resort fees nearly citywide. 
I am paying for a resort fee what I used to pay just for a night in the room. 
I am on a tight budget myself. And I am seriously considering much shorter stays in the future despite a nearly $500 airfare (which I pay about half of due to SW points).

It's true Vegas still represents a relative value to others but not to itself. Vegas is beloved by me not only for the great experience but also for the cost. 
It now leans heavily on the great experience. My total resort fees for a typical stay now is the total my entire trip would cost before. It's like I am giving back for all the savings I got from my prior trips. I like to think of it that way.

The hotel situation is difficult but I tend to avoid the food on the strip unless I am staying indoors by choice. Food costs less and tastes better off the strip than on the strip. Or maybe it's about even but it tastes better because the cost is also tasty. 
The food is overpriced. I eat $3 pancakes downtown at dupars and $11.99 chicken and ribs at Ellis Island. Best in category anywhere for both in my humble experience. So, thankfully there are deals left to be had.

It's rarely a question about afford (after all, vacations are anticipated as expensive) but rather of justification. If your local hotel went from $200 on average to $350 on average, you might not be able to justify it even if the same type of hotel is going for $450 average in hawaii. 
You can say "inflation" but this was quite rapid. Cheapo vegas still exists downtown and off-strip and scattered through the strip (Riv, Ex, Quad, Circus Circus, Stratosphere, Harrahs, Luxor, etc). Not quite the $11 night but still frugal. 
However, it has moved from $29 average to $50 average including the resort fee. $50 would get you two nights before. $100 might get you 4 nights but now you are stuck with 2. 

Vegas is still IT for me. Sigh.