It's not quite the same though, because a PC upgrade provides a far greater benefit to all your games whereas with these Pro consoles, you're largely at the behest of the developers adding support. There's the "Boost" feature but frankly on PS4 Pro it rarely seemed to do a lot so I'd want to see a lot more information about what it can achieve this time around.
£500 to upgrade a console every four years is pretty dreadful, really. Subtracting the amount I sold my PS4 Pro for, my PS5 on release cost me £315 and that was a far more meaningful upgrade both in performance and other features than this.