Steam has 171m monthly active users and 35m concurrent users on a Sunday. The console numbers you quote are insignificant. MS has managed to sell 25m Xbox series consoles total while Steam has 35m+ PC gamers online at the same time on a Sunday. Truly pathetic numbers for consoles while gaming keeps on growing. Add to that huge pc games that are not on steam like League of legends, Valorant, Fortnite, WOW etc and you end up with an enormous userbase.
Some RTX cards went to miners temporarily but ended up to gamers hands through the second hand market, hence the dip on new GPU sales volume which is now picking back up. I saw the latest numbers yesterday and PS5 is selling 10% more than PS4 while Xbox series 10% less than Xbox one. Total stagnation for the console market while Steam will break another record this holiday season.
Expecting cheaper GPUs while demand is only growing is completely delusional. Every kid watches their favourite TwitchTV streamer and their PC gaming rig and that's all they want eventually. Nobody wants cheap garbage anymore and we see that with phones, tablets, TVs etc.
I'm very active on a huge TV and home cinema forum and all I see is people connecting their gaming rigs to TVs. Nobody wants to spend their hard earned on an OLED or mini led and connect it to a PS5 that will drop to 720p in latest games.