Exactly, I can't see consoles adopting that kind of power draw any time soon, and developers are not likely to make their games require what will probably be a multi-thousand dollar GPU. There just isn't a big enough market for that. On the consumer side, cards like that will be more for those with money to spare who are willing to pay a large premium to run their games at very high resolutions and frame rates with raytracing cranked up. Buyers of "mid-range" cards should still be able to run the games just fine, only at more mainstream resolutions, frame rates and settings.Devs are going to primarily taget the massive console market, and by the virtue of the economics of the console market - and the likely prominence of Switch-like devices going forward - I doubt the minimum power consumption requirements are likely to reach extravagant heights.
Whether you feel the need to run these games at 8K/120+fps, of course, is your call.
A number of the most profitable games these days are even designed to run on mobile phones, allowing them to access as large a market as possible. Games that push the boundaries of graphics hardware have their place, and that can certainly be a selling point, but they won't sell all that well unless they also manage to run reasonably well on common hardware.
The great thing about multi-chip designs is that they should be able to scale to cover a wide range of hardware. If designed right, you could theoretically have a mainstream $250 card use a single graphics chip at around 100 watts of power draw, a $500 higher-end card use two chips at around 200 watts, and a $1000+ enthusiast-level card use four at 400 watts. But why stop there when there would be a market for something like an 800 watt card that utilizes 8 of the chips at a $2000+ price point? Just because new design methods allow for product lineups to be expanded beyond what is currently practical to make, doesn't necessarily mean the rest of the range will see higher power draw.Overall, this "MOAR power" tendency from all camps is just bad for everyone. Ugh...
Much like we see with Ryzen on the CPU side, the existence of 280 watt Epyc server processors utilizing 8 chiplets for 64 cores doesn't mean that the mainstream models with a fraction of the cores need to draw all that much power.