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A site surveyed people on which consoles they owned and how much they spent on the console, games, and accessories (including a TV/couch if purchased to go with the console). The results show that console gaming can be just as expensive as PC gaming. Sure, the hardware barrier to start PC gaming is more expensive, but consoles get you with their short-lived game design (think MMO vs Call of Duty), and a-la-carte accessory pricing.
This is not to say that console or PC gaming is or isn't cheaper than the other. It simply shows that people's spending habits heavily influence the cost of their entertainment instead of the other way around.