Let's face it. The uber duber turbine-sounded high end desktop doesn't get much of a use if you don't have some kind of time-management disorder or addiction. If you work or study you couldn't get much time on your precious anyway. If you work you get a console: Turn on and play and don't care of the price of games, you don't have much time anyway.
If you run CFD simulations or something like it it's your employer problem to get you the tools you need. From my experience you just use another computer to do the heavy lifting while you make other tasks of your work on a now-retired-from-heavy-lifting workstation.
If you like to program you can do it from any computer anyway. If you're a Open Source fan your favorite software would run on an 10 year old PC flawlessly.
New generations prefer portability and use cellphones or tablets. They maybe would never see an open up desktop getting some upgrades like we did. The big companies also prefer it this way so they can sell more.
From my case my next two upgrades will be a new impact and water resistant low end smartphone and a raspberry pi-like computer. The cellphone will be my calendar, mail-chat-google-internet machine and casual entertainment system (music, TV series, casual games). The raspberry-pi will be used as a server for a personal cloud and other home automation tasks. Maybe if I get a decent job I will think about going back to gaming. But I doubt if PC or console due to convenience. PC: very useful, but lifespan affected by use, dropping prices and new launches. Console: Long lifespan but not very useful and pricey games. As a final thought the next-gen consoles are as powerful as any mid-range desktop, not like in 2006 with the PS3 and Xbox 360, so even in the console niche there isn't any place for high end consumer computing.
But in my current state of life a decent job is only a dream (I'm an MSc student and my country doesn't need my skills).