The key thing to remember is... These consoles are not out yet and by the time they do come out which should be Holiday 2020, PC should have a good answer...
Ryzen 4000 series CPUs are on the horizon. Big Navi GPUs are on the horizon. Nvidia's 3000 GPUs are on the horizon. Samsung's 980 series Nvme SSDs that are rated to run at 6.5GB/s as well as their competitors are on the horizon. Unless they all get delayed which isn't impossible due to the virus, they should all come out at the same time or before the next gen console twins arrive.
Consoles will still have the best value as they always have but there's plenty of things coming out that will shorten the gap.
Yes, but can we really expect a improvement with the next generation of hardware? Last gen a mid-range PC would outclass consoles -- especially in the CPU department, but now Xbox and Playstation are the equivalent of very high-end PCs on basically every level. I shudder what this will mean for system requirements across the board. Most of the components in my current PC are 7+ years old. I've been planning an upgrade for a while, but now that I know an NVME SSD is a necessity I'm looking at a total of around $650 to upgrade most of my components -- that's with an RX 3600 CPU, which might not even meet the minimum requirements for next-gen games, and no GPU. Even if the new consoles launch at $600, PC parts would need something like a 50% drop in price to compete with that sort of value. I know mass-production counts for a lot, but I just don't see how Sony/M$ aren't gonna be taking losses on these systems. They really held nothing back, it's seriously impressive.
I love PC gaming, but judging from the way things are going I'm debating just giving up on it. I haven't even bought a processor yet, and I'm already looking at having to replace it within 2 years time. I'm not even thinking about upgrading my rx480 either because I can't afford it. The only thing that gives me a little bit of hope is that I'll be gaming at 1080-1440p while the consoles are pushing 4k.