In Australia it is selling for $79 retail it is $99 which is more than I paid for Destiny on release so stop your whinging.
Now, they pretty much could release this as a stand alone game it sounds like it would be about the size of Destiny maybe only a little smaller but they won't until they finish the full Destiny 2 which will only be on next gen consoles or even next, next gen consoles.
Don't blame Bungie or even Activision for the price difference in your country, it is how licensing works the people who own the license for your zone control pricing. Same as DVD.
Digital pricing should fall into line with dollar values because data is data but forced scarcity and licensing issues, due to contractual agreements it is probably a breach of contract to sell the digital version for much cheaper. Hence why here digital version of LE is $119.
If you don't like the price, don't buy the game.
Edit: Just so you are aware the average price for a new game is about $100
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