Haha, so much for that. Even the lower priced 3070 has like double the performance of a PS5 (20 TF to 10TF) on top of having hardware level DLSS, something the PS5 doesn't have.

The pricing of these new cards are awesomeee! Looks like maybe the unannounced 3060 will be above console level for like $300?

Still looking like a console spec PC will be far more expensive than the console itself but I'm very pleasantly surprised.

Well this topic got answered soundly today.

Sure, but that has always be the case, hasn't it? So nothing has changed.

Yep 35 Tflops 3090's.... for a 350-400watts gpu that cost 1500$+.
Still a 500$ 3070 at 20 Tflops is going to be twice the PS5.

PCs are much stronger, obviously the "console killer" pc is still around.

However dispite what the thread title is, the question asked by the OP was actually:
"But as with previous generations you would think you could build a similarly spec PC for similar or a little more price with better performance and expandability."

Its still gonna be hard to build a PC thats more powerfull than PS5/XSX within a 600$ budget.

Imo even with these impressive price to performance numbers, I think it will be hard to make a PC that will cost the same as a console while performing the same unless Sony, MS and AMD royally goofed. DLSS might be able to make up some of the performance with a lower class GPU but that will only be on supported games. And consoles will have their own techniques as well.

What the new GPUs does show us is that we won't need to break the bank to get a great gaming PC. And even the budget gaming PCs should be able to perform pretty well.

Prices of GPUs will drop after the 30 series arrive the 3070 is above the next gens by a significant margin and is the same price as the RX5700xt which is the GPU that matches what's in the next gen consoles it also beats out the 5700xt, AMD's only response at this point to this would be to lower prices to become vastly more affordable leading to PCs being able to be built on a budget that cost as much as the new consoles being able to match or outperform them.

It's won't be hard at all to build a budget PC more powerful soon it'll be like 2012 again when GPUs had a mad spike in progression leading to many powerful cards becoming cheap and vastly affordable come end of next year such PCs will likely start being quite common.

This year? Yes, it's going to be hard. By holiday 2021? No.

It's always been the case, but never been this dramatic before. (It's mainly cause PCI GEN 4 SSD and motherboard that runs them is like 60% the potential cost of a PS5. Not even including the CPU/GPU. 

I think you'll be able to do it with $800 by the end of next year.

But it's also worth mentioning that a PC the same spec of a console has infinitely more potential for other uses.