I have a four year old gaming PC, a Steam Deck, and an XSX with Game Pass Ultimate.
I buy most games on sale on PC because my backlog is getting deep enough I'm worried about waking a Balrog every time I play an old game.
I keep Game Pass Ultimate, and I always have new and interesting things to play.
I buy maybe one or two full priced titles a year, mostly as a result of there really only being one or two games a year I actually give a shit about.
Gaming remains a pretty affordable hobby, at least for the stuff I'm interested in.
With that said, in Australia, Nintendos games are now $110, which is actually the same price as Sony's games. I stopped buying Sony stuff when they hiked their prices, so if Nintendo has hit that wall for you, stop buying their stuff brand new.