build a PC.
1. it'll be more powerful than anything a next gen console can provide.
2. if you had a PS5 today there'd be no games for it so the "exclusive" argument goes right out the window.
I've just upgraded from 2500k to ryzen 3700x, x570 board (since b450 did not worked and uefi was stripped down), rtx 2070, nvme drives and so on. Total of 2k usd.... and 2070 is "mid" range. 3700x is also not the most expensive. nvme is corsair mp510 which is quite "cheap".
Overall, it is expensive, boots longer than my old 2500k build, is very troublesome and boots 20 seconds longer than 2500k build did.... I don't think it was worth it.
Sure - I am playing games at 4k60 with freesync 4k lg ips and it's glorious (especially old games) but on ps4 slim I have only 12 games (almost all major exclusives) and it's still amazing. The fact that it was 200usd new and everything just works and looks great is a miracle.
Recent example is gears of war 5 coop. It stutters like crazy, coop font is very small, there are some problems with hud going off the edges. It's a bad coop time compared to 1,2,3 we replayed in coop on 360 this years.
I mean - I have 500 games on steam so my pc is not going anywhere but even though I have pc since I was 7 (i am 30), 360 and ps4 gave my so much fun