I personally feel that I will wait till the next batch from Nvidia/AMD and upgrade to the RTX2080 super. Having a custom watercooled system adds to the cost though, so another £100 for the waterblock makes the decision harder. I can offset some of the costs from the sale of the 1080, but I doubt this will be significant by the time to buy comes around.
The release of next gen consoles is always a pivotal moment. This console generation pc gaming has enjoyed a huge surge in popularity and combine that with mining it brought us to this mess in terms of prices. I cant see the growth of pc gaming slowing down especially since next gen consoles are just PC components with different OS. They offer nothing extra or different and lack all of pc gaming's advantages.
Its hilarious how in the space of 10 years we went from "Is PC gaming dying?" to "We hope consoles become more relevant so they drop the prices of pc components".
I certainly hope so and I think with this next iteration of consoles the "master race" is being pulled back, so I think personally it is pc gaming that needs to stay relevant and it is up to the market and the GPU makers, Nvidia and AMD to keep it relevant.