PC gaming isn't dying. The best thing the PC has going for it in that department is the fact that there are no benchmarks of profitability PC gaming has to achieve to stay on the market. The games could sell like shit and be pirated everywhere and "they" wouldn't stop making PCs or PC parts. Hell, most(anecdotal) graphics card purchases at EVGA.com are for folding@home nowadays, or benchmarking to compete with other benchmarkers.
If PC games stop selling, the platform will still exist. People who are only interested in profits will just stop making games for it, or they will make them for consoles first and release them later on pc, and that's already happened to an extent.
The exceptions are independent developers who aren't well funded enough to create console games, and developers who have carved out a sustainable niche in PC exclusivity with MMOs, adventure, or RTS games.
For relevant exclusive "commercial" style games, yes the PC is a sad shadow of glory's past, and it will continue to be. If you doubt that, remember not too long ago, FPS wasn't considered a console style game. To say it's not dying, is one thing, to pretend its glory days are yet to come, or that it hasn't went downhill since Half-Life was released is imo denial.
Console gaming, despite all bias against it, is far better now than it's ever been, as PC exclusives have finally become available on those platforms, and due to the cost of development, most releases have a high enough budget requirement not to be simple cashins. Games aren't "worse now than they used to be"imo, I believe they are more mainstream and more popular, and if you think they suck now, you might consider the option that it is your taste that is niche and unpopular and not the current state of new releases or the industry.