Yeah, that's a common comparison actually. There is no doubt that gaming is dollar for dollar one of the cheapest hobbies you can have per hour of entertainment.
This poster clearly is not a PC gamer with the upgrade bug.
Movies are 10-20 bucks in the theater per person. The theater has great sound, nice seats and a hug screen. At home you can rent one for 5 bucks for the entire family. Cheaper if not recent and more expensive if still in the theater. Disney charged 30 bucks which for my family is about 4 bucks per person per hour. I would use something in this range as a comparison instead of taking the extreme case of a theater movie that includes the experience.
So movies at home are 1-4 bucks per person per hour or ~ 2-15 bucks per person per hour solo.
Games are different. Only one person can play at a time, there is no equivalent of a theater experience, and you have to buy special, expensive hardware to have the ability to play them. Also not every hour is worth it. Games have bullshit filler content that is more of a waste of time than valuable activity. The cost per hour of a PS5 game needs to be taken together with the cost of the system and accessories over the life of the system. If you play 10 games on the PS5 over 400 hours you spent 700+500 + tax. In my case that would be 1290. That is $3.25 per hour this gen compared to $2.75 for the same case last gen. Sure you can wait and get games a little cheaper, but overall it is not a better deal than movies and most people are done with games in less than 40 hours. Its also much worse if you have multiple platforms to get the exclusives, but gets better in cost per hour if you get more games, it goes to 2.49 per hour for twenty 40 hour games at full price.
For PC gamers who upgrade frequently the cost can get crazy. Selling used hardware helps mitigate to some extent, but when a GPU alone costs 800 or 1500 you are probably spending 400 or so every 2 years to upgrade that and another 500 or so to upgrade CPU/Mobo/Ram every 4 years at a minimum if you resell. Obviously not every PC gamer is like that, but I blew over 2k in the last year's craze to upgrade though I did get about 500 for old hardware. A modest estimate would be 1600 for the base PC with decent GPU with 400 in upgrades over a console generation. Games are cheaper on PC so the calculation for 10 40 hour games at full price would be 2000+ 600 -> $6.50, 20 games -> $4 .00
I am assuming that the TV you have would have been there anyways, though in many cases gamers get better TVs than they would otherwise get.
I have PC, PS5 and Switch. That is basically 3500 in hardware to play games, 800 just to be able to play exclusives. It is definitely not a cheap hobby. I also do not play a lot of games each year. I am a busy parent. Over a 5 year period, I am probably looking at 20-30 full games with a few 2d metroidvanias and replaying some older games sprinkled in. So the HW cost alone is going to be about 4500 or $3.75 per hour. At least with PCs I get to spend a couple of hours putting it together.