There's a couple of different ways to look at it. One, PC is more useful than just gaming. Like GoPro video editting. Having a beefy machine helps with that also. On the other hand constantly upgrading a PC can be annoying so I understand why the console is tempting. I have both
The cons of console is the long time between hardware updates. Especially the latest gen gap. Usually you only had to wait 5 years for a new console. A 10 year gap this generation, that was odd.
However, the cons of PC is a new bit of hardware will come out and you will find out your current hardware can't take complete advantage of it, so you will need to replace something else, then something else, then find out you need to replace the entire machine.
For example, new processor comes out, you will need a new motherboard. To get the best out of the new motherboard you may need new memory. More PCI channels may have been added so maybe you need a new video card to take advantage of it. It becomes a domino effect. It's really hard, at least for me, to upgrade one thing only to find out I am not maxing out something else because of it.
Therefore, I generally keep the same PC for 4 years and then replace. It sounds expensive, right? Especially compared to console. Here's how I look at it. I need a PC anyways, regardless if I gamed on it or not. So for me I compare the extra cost of turning the PC I need into a gaming machine versus getting console. Comparing that they end up costing the same over time.
More and more people are moving their PCs to the living room and playing on the TV. Why else would Razor make the new Turret keyboard and mouse! So the excuse for playing on the big screen as the reason to get a console is starting to be a moot point. However, many PC games are not designed for two or more people to play on the same machine. Many indie games like Nidhogg are, but big titles not so much. If you like couch gaming with friends then console is the way to go. That's why I have both. I do couch gaming with my friends but I also like the mods of PC gaming. Galacticraft, you won't see that on a console.
There's this big console vs PC war. I don't get the war as each has their pros and cons depending on how you like to game.