As said you extrapolate from the past and shouldn't.
7790 was low-mid GPU on an era where we got +50% between generations and came out 6+ months before the PS4.
By the same extrapolation, PS5/Xbox could be using something like a 5600XT/GTX1660
Yet we do not have GPU yet in that low-mid range that does native 4K60 with full RT ON. Hell even the top of the range cannot do it in native 4K hence the example from the DX12 YT showing the 2080Ti could keep up only at 1440p.
Do you really believe 4k@60fps in modern and future games on the new consoles? I don't. Metro Exodus on a RTX2080 drops under 60fps at 1080p
without RT in some cases if I push up the settings.
Moreover, whoever had a 1080ti or similar card from rtx2xxx series, would have enjoyed a great level of performance way before the consoles would hit and some time after, with probably no real need to upgrade (a console would not offer much more). Add DLRSS 2.0 on top (hopefully something similar will come from AMD) and once more, the need to upgrade is pushed further away until good performance is available at lower prices.
Sure, you'll have the rest of the PC crowd, but most game on lower res screen where middle or low end cards are still enough at 1080p if you don't push the details all the way up.
I think consoles may do it at 4k 60 with Raytracing but as usual likely a lot lesser features and details than the pc counterparts.
It will depend how good the RT hardware is. See Quake 2 and how poorly it runs even on 2080ti. I think at best will be 1080p@30/60fps.
Well its the price of one a single component.
Indeed, but as a PC gamer you'd already have some base to build on, but even starting from scratch, you didn't need some expensive hardware to match the console performance - plus you don't pay for the MP part.
With the new ones, being Zen architecture and games being optimized for all its quirks, should allow even 1st gen Zen(s) to perform well. Moreover, Microsoft said that for 2 years newer games will be supported all the way back to 1st gen Xbox One, meaning the chances of a game that would not run fine on middle range PCs is almost zero.
Overall it depends very much from person to person, what expectations, hardware and resources they have. The good part is that the new consoles will be miles faster than what the previous ones were at launch, so hopefully the devs will actually bring something new to the table when it comes to games. If not, I couldn't care less about what hardware is in each of the boxes.