The PC has exclusives. All platforms do! Whether the exclusives on one platform is your cup-of-tea is another matter entirely and really up to personal taste and should/would direct your purchasing decision.
As for upgrading, if you build the PC in mind with decent components from the beginning you really only need to do GPU upgrades, often I see people still running 6-7 year old systems (Albeit overclocked, the Q6600 can still handle games fine today!) and simply just drop $100-$150 every 2-3 years, which might I add is the cost of multiplayer you pay for on the consoles anyway.
Thus, you still save money in the long run with the PC.