The price range you mention, is true, but i think it mostly applies for mid to high-end gaming.
Right now, a PS5 Pro in Greece, costs as much as €799, which is roughly $861.
I'm pretty sure i could build a budget gaming PC for slightly more than that.
And, besides, that rig would be able to perform much more tasks than just gaming.
That was my point all along.
P.S. To be honest, i don't know much about the graphical fidelity of a console, because, last time i bought one, was back in 2008, with Xbox 360.