good advice. Will be waiting on price drop on GPUs. Really fancy playing some VR now too. Will prob go for a mid range rig/with vr capability.
Punk will prob be facking delayed again
I've been doing a similar calculus myself about whether I want a PS5 or XboxX, with the added considerations of having a wife and family.
For me there are three considerations.
1. Cost
2. Performance
3. Range of games
4. Upgradeability
5. Lifestyle
1. Cost - We don't know exactly how a PS5 will cost, so it's hard to compare, but estimates are it'll be in around the £400/AUD 750 mark. At this price, in the short term, it seems relatively likely that it'll perform better than an equivalently priced PC. Winner - PS5.
2. Performance - Based on teraflops, it seems likely that at minimum the PS5 and the XboxX should outperform all but one or two current PC GPUs. I think this will change with the next gen GPUs, but based on what's available today, you're probably quite a bit better off performance wise with a console (relative to price).
3. Range of games - You say that you'd only be buying it for one game, but having researched it I think there are a few things I'd quite like to play (not having a PS4 already), including The Last of Us (1+2), Ghost of Tsushima, the Spider-Man games, Persona 5 etc. Mind you, this is a different calculus for me than yours because I already have a decent PC that can cover some bases not currently available to PS5. You'd have to have a compare of which games are available on each platform if you could only have one. XboxX is the loser for me here because it doesn't seem to have that many exclusives.
4. Upgradeability - This is not relevant to me because I have a laptop. However upgradeability may be important to you because it potentially means a somewhat lower price in the long term - the logic being you don't need to chuck out the whole machine, and instead you can just replace components. But because the GPU is potentially the most important and expensive part of the machine, it's not necessarily crystal clear. A top of the line GPU will set you back the price of a whole mid-range PC on its own, plus change. Mid-range GPUs won't be quite so much, but you need to think about how often you'd need to replace the GPU over the long term to be able to sustain good performance for new games. For me - not relevant. For you - depends on how much money you have now and when you expect to have money for an upgrade, and what's available at that time.
5. Lifestyle - From a quality of life perspective, what will make you happier? For my circumstances, the experience of playing a game on my couch next to my wife (who'd be doing her own thing) is better than the experience of playing a game at a desk in the corner. This also allows me to play on a big TV instead of a monitor, and there are some (relatively few) occasions where I can play some games with friends as well. Those are the pros. In the cons column, there are some games that are far better to play with keyboard and mouse (in particular - Baldur's Gate 3). For me - Console is better.
Regardless, as others have said, I think the best thing is to at least wait until the next gen of GPUs/consoles come out. When they do, I think it's fairly likely that you'll be able to get your top of the line GPUs at a knockdown price. I don't think many people will want to pay potentially twice as much or likely more for a GPU than a new console, when the performance would be similar at best. At that point maybe the RTX 2080 Ti will come down to around £500, and you can save a bit more to get that. Maybe.