Don’t overthink it. The real pull for any platform is exclusives.
We will buy a Nintendo console to play the next Zelda, Mario, Metroid, and so on.
Few will invest in three separate platforms just to access ”low-end” and ”midrange” gaming if they already have access to high-end gaming on a PC. Everything is already there on PC now, small indies, AA, huge AAA, TV, VR, handheld, gaas, mp,sp, even Microsoft and Sony exclusives (delayed) are there now.
The low cost is the one thing where the PC industry struggle badly to be competitive. I’ve paid twice as much for 10 years of PC hardware as 40 years of console hardware.