I feel like I've been hearing this on repeat for a long time now, especially in relation to the Knicks. I myself was convinced it was coming a few years ago.
I think I was wrong. Just look at the Yankees. They basically got rid of many season ticket holders when they moved to the new stadium and raised prices enormously. Everyone was saying, look at the empty seats. The market isn't based on butts in seats any longer and it seems teams could care less. The Yankees are wildly profitable. They are having their most productive years ever. Sure, they have a great team now, but the prices didn't change.
Rangers and Knicks will continue to make money. Sports teams, especially in huge markets, are just hugely popular, hugely valuable and limited in quantity. Professional teams are essentially mini-monopolies. Niche consumption is a thing of the past (unless you're a hockey team in Carolina). Anyone wishing for a significant decrease in prices will be sorely disappointed. And given that MSG is now a public entity, pleasing your shareholders is generally something that, in this type of business, will rarely lead to ticket holders betterment.
As a side note, with Lyft and Uber going public, I think we'll see something similar. The prices of rides are very likely to begin increasing. Now that they've essentially cornered the market in this area, they will need to become profitable for their shareholders.