People saying PC gaming has got ridiculously expensive are I think missing the fact that paying £600+ for a new GPU is not the average PC gaming experience. The average PC gamer probably pays £1000 total for their PC, maybe £1500 tops.
I now have a £3000 PC but this is the first time I've bought or built a new PC in 10 years, and most of the reason I spent so much is for workstation use, not gaming. Before that I had been using the same PC for 10 years, with only the GPU changing occasionally, and never to the latest or best model.
My most recent gaming experience was re-playing The Witcher 3, heavily modded. I did so on that 10-year old PC, whose total value excluding GPU is probably now around £100. My GPU was the AMD Vega 64, for which I paid £280 (used stock, from the Bezos company). And even though I was playing at 4K and heavily modded, I still had a great experience - average FPS around 45.
I would argue that that kind of experience is more the average for PC gaming. People paying the price of an old used car for each component are the exception, not the norm. In the context of this thread, it's the upcoming X6700, X6600 and X6500 (if there is one?) GPUs that will define the market. Likewise the NVidia 3070, 3060, 3050Ti, or whatever models they have. That's what most people will have - GPUs which are maybe slightly faster than a console, but not by a huge amount.
It's only us crazy buggers who consider gaming and PC building a hobby that are able and willing to pay these prices, but that doesn't mean the market as a whole is this expensive.
I'd argue that PC gaming is in a great place, probably the healthiest it's been.