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I would say what's the point?

Even if there was a $5000 console, it would be the developers job to make use of the available power, but why should they? It would please only a few people and in return cost a bunch of money.

Remember how long Crysis was the best looking game available. It was because Crytek really pushed PC hardware and tried to make a game for the few that had a monster of a PC back then. No one else was doing that the years after, because it wasn't a financially viable option.