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It's already happening. People right here on these forums are talking about their (planned) move to console gaming, and how they are glad to have done so. Prices of PC hardware are a huge factor.
When you consider the possibility that the Xbox X will bring 4K quality to the masses, it might be a very compelling reason to wait - i might do the same if I can't get something to play nice with my 43" freesync 4k monitor - I sold my R9 Nano in preparation for AMD's latest offering, I hope it wasn't in vain due to not actually being able to get one!