And to answer your question, I would think that the library makes it different from stuff like cars, holidays, etc. What's the point of having a luxury console if the $299 PS4 has a better library?

The problem with a 5000k+ PC is that it is very rarely worth it. A 1000$ PC is high end as long as you're getting an i5 and a good graphics card.

That being said yes, you described an overboard PC

Because no one would buy it, so no one would develop for it.

Luxury gaming in the console realm existed for a short time with the Neo Geo. Now it's strictly custom hot rod PCs with multiple large monitors, plus a room setup for VR.

We already had a system that some people needed two jobs to afford. Is that not good enough for you?

Huh? Gaming in and of itself is a luxury.

Are we talking more powerful systems, or just luxurious items for the rich? There have been items in regards to that 2nd option in terms of consoles. I remember hearing about an expensive gameboy that had a gold exterior as well as diamonds on it. There have been a few more items like that, but they're quite rare.

As for more powerful consoles, I suppose there is the PS4 Pro and Xbox One X

I think the real answer is there aren't PC parts out there that cost that much. Tech brand names aren't that big or valuable, so companies can't get awat with it, and it's not as easy to brag with a $20k PC (in your room/office) as a $200k car (which you take out). So there's no market for such things.

Apple might be the closest to it.

It's called PC Gaming, isn't it?

There is such a thing.   

http://www.therichest.com/luxury/most-expensive/top-10-ridiculously-expensive-video-game-consolesaccessories/