Consoles used to be the cheaper option. PS2 at launch in 2000 was $300. A pc in the year 2000 cost about $600 or more if you were putting together a gaming rig.

The PS5 is $650, and that's still less expensive than a gaming pc. Minimum spend for a gaming rig would be $800 or more.

The reality is that consoles were the most in reach option for poor people, and maybe they still are.

I suspect that people who really really can't afford the hobby on console will turn to roms on much older PCs.