I think there is a second order effect of this: it won't be worth making games for PC. At least, large budget games.
not true. it wont be worth it anymore to implement Path Tracing or Ray tracing which is absolutely not needed for a prime gaming experience. its deterimental even because ull only get into games with a certain type of person who can afford a big machine.
Many games that come out still, and are quite successful, do not require such technologies.
It also won't be worth it to make games for next gen consoles if the prices end up being what people are saying. So in the end they'll just keep doing what they're doing right now, and not increase the hardware requirements of their games.