Why? You don't have to buy the very top end components to game well on a PC as I am sure you already know. Heck you can buy an R5 2600 build with an RX580 for a shade over £600, and happily play at 1440p which is better than you can do with a console.
If you become obsessed with owning the best, of the best, of the best then you are gonna get ripped off, no matter what the hobby, if it's not a hobby and just something to entertain you then there's no need to even be looking at a CPU above £160.
Yup gaming wise the difference between even a 5 year old cpu and current best of the best is exceptionally small when it comes to actual fps at gpu limited framerates. I'm still on my 5820k which I got for fairly cheap, £210 or something iirc a few years back. I also only upgraded from the 2500k because the motherboard was basically dying and spending £80+ on a new motherboard for a dead platform felt like a terrible investment.
Despite really wanting to go back to Ryzen I put it off because I think it will have the best power/efficiency/performance/core count increase and value of likely all Zen chips and anything Intel will have any time soon. I'm hoping for maybe a 10-12 core not highest chip that can easily be overclocked to match the higher chips in clock speed and will last for multiple years with ease for gaming.
You don't have to get the most expensive chip nor upgrade every year to have a great gaming computer. Upgrading gpu will gain you drastically more performance than upgrading the cpu and even then the speed with which gpus are being updated with significantly more performance has dropped massively. Midrange prices are still pretty decent. I've been using a rx480 at 1440p for a couple years and frankly as long as you're smart with settings I've had no problems getting 70+ fps in most games most of the time. That ultra high shadow that you actually can't notice at all while playing and only while standing still, drop it one setting and gain 5fps. Motion blur and DoF, awful effects that at best you only notice when you don't want to, remove them and usually gain 5-10%.
I actually just splashed out for my birthday and got a Vega 64. Which for me is too expensive but I was going to get Assassin's creed anyway so effectively £410. I think it's overpriced still and usually without the mining crap I'd have got one for that kind of price 2-3 months after launch and got 2 years of heavy usage out of it. This time around a replacement is probably not that far away and reselling for decent value with mining cards flooding second hand will be worse value.
Still, £400 every few years and £300 on a cpu and mobo every 4-5 years isn't expensive way to game.
I had a PS4 bought for me by family, but after 2-3 years it became obnoxiously loud so I ended up buying a PS4 pro on a decent deal with a couple games I wanted. So even the console game in effect is costing £300 every few years anyway.
Gaming on PC is cheap, becoming an enthusiast who focuses on non real world benchmarking and convinces themselves to spend 3 times as much for no real world gain is expensive.