When you add all those unnecessary cost for the console and then omit the price of the PC itself and some of its components, then of course playing on PC is cheaper.
You can get a pretty great gaming PC for $1500 if you watch for deals. Loading up your console with options to try to make it as good as that PC will cost you almost a grand anyway. The PC can be upgraded piecemeal later, since everything in it has a standard form factor. The console can't. The PC can run other operating systems, the console can't. The console theoretically has better security and reduces cheating, but I've played plenty of console games online (I had consoles from when I was a kid, my first home game system was a Coleco Telstar, and my last console was an Xbox 360) and there were cheaters in some of them and many people report that's still happening. So literally the only noteworthy "advantage" of a console is that there might be exclusives you want to play on that platform, but that's obviously artificial.
Back when you bought a console for a couple hundred bucks and a decent computer cost over a thousand, and the computer had crappy graphics, game consoles made sense. Today, the game console is just a locked down PC you're not allowed to use as a PC, and the value proposition is much poorer.