The problem with Sony going $500 for the ps5 AND charging $60 a year to play online, suddenly the cost start rivaling/matching a PC build. Five years of PSN+ is $300, plus that $500 sticker price, $800. Yeah, I'd build a PC.
For an equivalent PC I have no doubt you would be looking at spending a lot more than $800.
Maybe, maybe not, frankly I don' think the ps5 is going to be as powerful as rumored. Prices of a nice GPU have been high in the last few years. Either way the ps5 will probably need an external HDD for $100, like my ps4, so put the ps5 at $900. What I could or could not build at $900 remains to be seen.
Either way you are intentionally missing the point. The price of building a PC won't look as daunting if Sony goes $500 and continues to charge for online. For Sony to continue to receive my support either the console needs to be cheap or online needs to be free. I am not supporting expensive console AND having to pay for BS online.