There was a time this was different. But for the past two generations there has been a consolidation among almost all of the development community that consoles are where the money is at.
And in turn this has been where the money is being focused. Unfortunately for real-time rendering in general, the console industry is the slowest at gaining new tech. And this generation in particular the start of an industry wide initiative at slowing the tech boom. None of them are the cutting edge. All three could have been more.
Not to the same degree they could in the past. We still have to deal with the limitations imposed by these small cases. Limited cooling options, price expectations for consoles. One major perk for those that game on PC's this time around is it's doubtful that the closed system nature of consoles will give them the same advantage as they had in the past. Even the most unoptimized ports should at the minimum of run at parity if you've got a powerful enough PC.
And today you're talking about PC's in excess of 2-3x the capability of the PS4. Not to mention what the rest of this year and beyond bring.
So while yes, it is true that consoles increase the baseline especially in the modern era... in practice this generation it means within the year being able to render the same games, at much higher resolutions, with much higher precision effects, and sooner or later better implementations of lighting solutions that are all but impossible on either PS4 or One.
This isn't the same brute force advantage that PC's had in the past. This will be a magnitude greater within the year if you have the money for it.