Isn't that kind of the point.  It doesn't bother them because they bought a console.

Also, why do I need to consider this other factor?

Personally, I hate how franchises that were once PC exclusive have been watered down to allow multi-platform releases. Bioshock is a great example, it had a fraction of the depth and difficulty of System Shock 2 and it even sacrificed the inventory to make it console-friendly. Conversely, I hate how consoles are trying to be cutting edge multimedia centers *cough* PS3 *cough*. All I wanted were great gaming consoles that complimented PC gaming instead of competing with it. FPS, WRPG and RTS games were fine on the PC and I liked it when a Playstation didn't cost $600 so I could be treated to lousy multimedia capabilities. Maybe I'm just bitter but I hate where this gen is going. /rant

Mostly bitter resentment if you want to oversimplify things.

Console gaming gets all the mainstream press, typically gets priority on games from all but the most dedicated PC developers, and sees all the advertisement and media visibility (see press).

This trend has only accelerated since the current generation began although console gaming has always had mainstream media advertisement. It's part of the reason why console games cost more in the first place.

And this is during a time in which it has never been cheaper or easier to build (or just buy OEM) anything from a budget PC to a top of the line rig for 2560x1600 display output at max settings.

But there is a LOT of crossover between the platforms; more than the biggest pundits on each side are willing to admit.

Multi-plat releases almost always play better (for technicals like resolution, effects and frame rate) on a suitably configured PC, even down to the 360 game pad if that's preferred to the standard mouse/keyboard.

In the end, it's really just a matter of preference. Even the best rig in the world can't play any of the console exclusive releases.

The simplification of a lot of old franchises in general has less to do with the hardware they run on and a lot more to do with finding an expanding audience, which naturally upsets the hardcore.

You can look at the history of boardgame version of wargames to see what happens when you keep pandering to just the hardcore audience.  Somewhere between pen and paper D&D and World War II, a niche of boardgames (wargames) came out, with publishers like Avalon Hill and SPI releasing games to individuals, and building up a following.  This market started out with low complex and accessible games, and gradually got more and more complex trying to push for more "realism" or at least more complexity, that seemed to make for a game that would appeal to the target audience.

Well, along the way, the end result was that the products grew more and more inaccessible to newcomers and the niche faded in relevance.  This niche used to be so relevant that the former Kay-Bee Toys and Hobby used to stock Avalon Hill games in their stores. 

So, when you pander to the hardcore, at the expense of newcomers, you end up losing growth, which is why you see what is seen as "dumbing down" of titles to reach greater numbers.

There are still succesfull (true) HC games and game series on PC. Btw, you said it. Whats the next step for getting larger audience? ;)

Hint: See what Nintendo is doing. Will that be ok? :)

As a PC/Console gamer my only real gripe would be how risk adverse the market has become.

I suspect this isn't so much to do with the shift to gaming on consoles itself as the growth of the industry which sees developers less willing to take risks as they target large sales with known quantities (or the lets make another FPS thats the same but different and see if that sells like the last one mentality).

Mind you, I will always hold the original Xbox accountable for messing up Deus Ex 2 and Thief 3 - damn you Xbox for that!

It's already happened on the PS3 for the meantime.

Example: Name me ONE PC racing sim that graphically compare to GT5P.  You can't, because it's the top of the pile.  Name ONE PC off-road racer that graphically (or physics wise) beats Motorstorm 2. Name me ONE PC FPS that has 7.1 DISCRETE audio, the amount of enemies, level of A.I., animations, physics, etc. in game as Killzone 2.  Name ONE PC Sports game that performs like MLB 09: The Show.  See what I mean?

Plus, PC gamers typically game on small screens.  The smaller the screen, the sharper the image (pixels are less spaced out).

HOWEVER, PC games WILL reclaim their crown after developers understand how to truly multi-thread their code.  But, next gen, consoles will reclaim it again out of the gate (well, the next Playstation will due to them using a beefed up Cell and GPU).

PC = 360

No, I'd say much "simplification" just comes from moving from keyboard/mouse to controller.