I know what you are saying, but it was somewhat surprising to me that the PC was essentially already ahead when the consoles launched. Previous generations the PC had to sort of catch up over time. 360 games didn't really have a lot of better looking PC ports until the last 3-4 years of the console life.
My main point though, was that if I wanted the high fidelity option currently I'd be playing on PC (and I generally am). The nice thing about the consoles is that they have traditionally provided good value for a lower entry cost than the PC market without the need to upgrade for 5-7 years. That goes away on a 2-year upgrade cycle.
I'm in a position where I have every console for the exclusives and a good PC though, which makes it a lot easier to just dump the consoles if they start iterating too fast. I'm already paying the $400 entry fee essentially for the ability to play Destiny, Uncharted 4, Bloodborne, etc. and a few things with my friends who only have consoles. I'm not buying 2-3 boxes per generation for that.