The difference between buying an expensive yet up-to-date gaming PC with buying a relatively expensive latest console is that a gaming PC can last for decades and play a large variety of games as long as the parts are up to date. And by that I mean you don't need to buy the latest graphics cards or RAM drives the moment they come out. As long as you have a decent gaming PC then it can play the latest games.
While games for consoles means the consoles are entirely optimized to play games for it without the need of buying additional parts (most of the time), if games are console exclusive then that means you're buying both game and console for it. And of course the market-life of a console is around 5-10 years which means it will become obsolete and exclusives may no longer be on the market if you're a little too late. Logically you can simply keep the old consoles and buy the games second handed but if you're going to buy the latest consoles to play along side your old ones then you better hope you have enough sockets to plug in the consoles. Either that or hope the next console will be backwards compatible which isn't always guaranteed.
I'm not one of those "PC MASTER RACE YOU PLEBS!" sort of people. There are console exclusive games I really want, I just don't want to pay for the middle man just to play them.
As for me I'm also a physical game collector.
As strange as it sounds, I like watching box of games and reading their manual books.
Back then most PC games has CD or DVD version, but right now they went digital only.
That's also a factor why I prefer playing console games than PC.
Here's some of my Sonic games collection :
Of course I understand that space is also an issue,
that's why some people who don't have much space in their house prefer digital games.