What's in a name is mostly marketing, and consumer application.
Video game consoles are toys.
Some can be used as media hubs/movie players, making the Wii a lot more focused as a game console, but then it has never been marketed as anything but a game player.
A minority of users are probably only using their PS3s as Blu-Ray/DVD upscalers, maybe even using the PSN video store, with little or no interest in games, so to these users it's a stereo system component.
A PC can be used to create content/productivity applications, or it can be used extensively for gaming.
So yes, a gaming rig would also be a toy, regardless of specs and computing capacity. Even the ones that cost more than workstations made specifically for doing actual productivity work rather than play.
Does labeling something a toy suddenly make it less "serious" or a less valid form of entertainment?
No.