How do you figure it's on par with console expenses? Buying a computer that can deliver a similar gaming experience (resolution, graphics, framerate) to a just released console is going to cost well over what it would be to buy the console. And since console lifecycles are somewhere around 7 years now, you'll have to buy a new computer entirely when it's time for the next console cycle. The whole "oh I'll just buy a new video card" argument doesn't work. 7 years is too much. Cards probably won't use the same protocols, you'll need a new motherboard, more ram, yadda yadda.

Maybe I've misunderstood what you were trying to say, but to me. . .console gaming is definitely cheaper.