All games that have the budget for graphics these days are targeted at console limitations. I can't really see any reason to spend that much on a graphics card, except if you're a game developer yourself.
Buying the absolute-top-of-range card(or CPU) almost never makes any sense, just because such parts are always 'soak-the-enthusiasts' collectors items; but GPUs are actually one area where (while optional; because console specs haven't budged in years) you actually can get better results by throwing more power at the problem on all but the shittiest ports:
First, resolution: 'console' means 1920x1080, maximum, possibly less'. If you are in the market for a $250+ graphics card, you may also own a nicer monitor, or two or three running in whatever your vendor calls their 'unified' mode. A 2550x1440 is pretty affordable by the standards of enthusiast gear. That is substantially more pixels pushed.
(Again, all but the shittiest ports) you usually also have the option to monkey with draw-distance, Anti-aliasing, and sometimes various other detail levels, particle effects, etc. Because consoles provide such a relatively low floor, even cheap PC graphics will meet minimum specs, and possibly even look good doing it; but if the game allows you to tweak things like that(even in an .ini file somewhere, just as long as it doesn't crash), you can throw serious additional power at the task of looking better.
It is undeniable that there are some truly dire console ports out there, that seem hellbent on actively failing to make use of even basic things like 'a keyboard with more than a dozen buttons'; but graphics are probably the most flexible variable. It is quite unlikely(and would require considerable developer effort) for a game that can only handle X NPCs in the same cell as the player on the PS3 to be substantially modified for the PC release that has access to four times the RAM or enough CPU cores to handle the AI scripts or something. That would require having the gameplay guys essentially designing and testing parallel versions of substantial portions of the gameplay assets, and potentially even require re-balancing skill trees and things between platforms.
In the realm of pure graphics, though, only the brittlest 3d engines freak out horribly at changing viewport resolutions or draw distances, so there can be a reward for considerably greater power(for some games, there's also the matter of mods: Skyrim, say, throws enough state around that the PS3 teeters on the brink of falling over at any moment. However, on a sufficiently punchy PC, the actual game engine doesn't start running into (more serious than usual) stability problems until you throw substantially more cluttered gameworld at it.