Comment Can't do that and hit the price point (Score 1) 117
Hardware costs money. If you want cheap consoles, you have to trade things off. For example my PC has no problems rendering games like Titanfall at 60fps, even at resolutions beyond 1080 (2560x1600 in my case). So, just put that kind of hardware in a console right? Ya well, my GPU alone costs near double what a current console does, never mind the supporting hardware. It isn't feasible to throw that level of hardware at a console, it just costs too much.
That kind of thing has been tried in the past and it never worked. Remember the Neo-Geo? Had real arcade hardware (back when arcade units had better hardware than home systems) in it, far and above its contemporaries. However with a price equivalent to about $1100 today compared to its competitors which were about $350 in today's dollars it did very poorly.
The console makers had to make tradeoffs, and price was a big concern. Hence the somewhat limited hardware. Basically consoles are for people on a budget. They want something that plays games, but doesn't break the bank. So, the hardware in it has to be scaled accordingly. For those that want performance and are willing to for over more coin, the PC market is happy to oblige.