Most people now have the console they prefer, and it’s lasting them. They don’t necessarily need new consoles. This is true EVEN if that console is a PS4, Xbox One, or Switch. They don’t get everything, but a surprising number of major releases still come to all those destinations.
It’s still nicely convenient to have consoles for less setup and configuration. Some people manage really complex problems for their work and home projects already - a desktop computer may be beyond their tolerance.