Console gaming has become popular, really popular over the last few years. Nintendo, Sony and Microsoft did a great job releasing great consoles at very reasonable price points. The fact that $200 buys you an entry level Xbox 360 or Sony Playstation 3 isn’t really helping PC gaming at all. Sony and Microsoft did a better job on the graphics side, and games look awesome on them.
A decent graphics card will cost from $199 all the way to $599 and let’s not forget that you need the rest of the PC to pay games. If you want to go into high resolutions, you need a good CPU, lots of memory, fast hard drive and of course big monitor. All this costs way more than a gaming console.