PC gamers love low resolution, stutter and screen tearing, but they'll never tell you that.
Look, I play this game at 480p stretched because it makes the hit markers fatter and I get 1,126fps which makes my input lag like .023ms so I can take out my opponents the fastest. Just don't tell them that their internet connection negates all of that.
If the other people are playing online, then the difference does add up.
Competitive gamers run 1280x960 stretched on a 1080p 24" screen with over 300 fps.
Most PC CPUs/GPUs can go up to 100C before a shutdown happens. Imagine if your CPU/GPU ran at 95C for extended periods of time, that would obviously reduce the lifespan of the component.
Parts slow down as they reach TJ max. Assuming you repaste as often as needed (I'd repaste every six months to a year if running it that hard), then your components will be fine.
You should only be hitting these temps if you're doing serious overclocking. Otherwise get something with better airflow. Obviously the PS4 doesn't have the best airflow design, but it will likely be OK. I'd repaste a PS4 now if I still had one though.
You should be more worried about electromigration, which will become an increasing problem as nodes get smaller.