It’s still less expensive than a PC hobby
Only if you plan on either never paying for an online sub for the console or paying for an online sub for less than 5 years on the console, and also take into consideration that a PC can both game and be a computer you can use for other things.
A gaming PC has a higher upfront cost, but it’s a better long-term value. Let’s say you buy a PS5 for $500, and then pay for 5 years of PS+ for the old price, $60. That’s $800 for a friggin console already, but let’s also consider that most people either have a laptop or a tablet for doing computer-related tasks. Reasonable people would pay probably somewhere in the $400-$600 range, but let’s give the console a chance and say we got a $400 laptop. That’s $1200 now.
Using that $1200 as a budget, you can get a computer with a 4060ti, a 12th gen i5, a 1TB NVME SSD, and 16GB RAM for around $1100. Note that, say, 5 years down the line from buying this PC, you can just swap in and out parts as you want and be able to sell old parts for some money back, so staying up-to-date to play whatever current games can be cheaper too depending on the part prices.