I disagree. The console market has always been like this. (Need I remember the endless upgrades on the PC-Engine, MegaDrive add-ons, N64 expansion packs, etc)
We've just reached a point where new tech increments don't necessarily mean a leap in graphical/gameplay fidelity, but rather a continuation and improvement of previous services and frameworks.
Keeping a PC has always been a viable option, however it offers a completely different experience and it's stagnating at an alarming rate. It will always be cheaper and easier to game on consoles