We have these threads every gen because people got used to the discrepancy between early console performance/visuals and PC performance/cost in the PS1/PS2/PS3 era.
During these particular console eras, games would be much more potent on consoles, and PC ports would look worse, run worse or generally require significantly more powerful systems than consoles for the same games.
PS1 era: we had 3D games while 3D acceleration was in its infancy on PC, so performance / visuals were poor. Poor was also performance scaling with framerate, resolution, AA and even Anisotropic filtering.
PS2 era: we started getting Pixel Shader 2.0 this era, where performance on PC was eskewed heavily by the extremely poor PS2.0 performance of GeForce 5 and even GeForce 4 being very poor in comparison to ATI PS2.0 9000 series.
PS3 era: this was the shader era. The irony here was the PS3/X360 were made of GPUs not really well designed for shaders, however PCs GeForce 8 and HD 3000 and above, were really good at pushing shaders compared to GeForce 7 and ATI X1300-1900. Performance on PC also advanced tremendously, especially on the GPU side.
PS4 generation: this was the compute era. Most GPUs in the PS3 era were good at pushing shaders, but weren't good at compute. AMD GPUs were powerhouses since 2011 with GCN1, while Nvidia only reached compute parity with the RTX 2000 Turing GPUs.
We also went from getting new tech and VASTLY faster GPUs every 6-12 months to every 24 months to every 36 months.
PS5 era: we're still in the full compute era, but we now have real time ray tracing on top. People want higher resolution, higher framerates, better visuals AND need new tech features with every console gen. This was feasible in the PS1, 2, 3 and even PS4 era (DirectX11, tessellation, GPU particles, screen space effects). However this time around the economy broke due to crypto, inflation and delayed technological advancement.
If this economy continues, PS6 era will be an even smaller jump than PS5. 8 years after PS5? We'll have 2 to 3 new GPU generations. People will want more reliable 120 fps. People will want more comprehensive ray tracing effects. People will want better visuals wholistically. And the kicker: we barely could do 4K in 2016-2017 on consoles on 8th gen. We barely can do 4K in 2020 on 9th gen. We'll barely be able to do a locked 4K on 10th gen. New consoles will still be 400-600$ for an entire system. But people will expect 8K60 and 8K120 resolutions, alongside all the other features mentioned above. Also, hell, 16xAF.
People are in for a rough awakening with the next console gen.