In terms of raw specs and power PCs have always been much better than any console. However, the game quality consoles output is much better than any comparable spec PC. PC has so much wasted power on all the background stuff it's absurd. So that's why a PC typically has to have so much more ram, cpu power etc... to be even keel with a console game. And it gets to a point that raw power beats out a console no matter how streamlined it is.When you do a little math and compare what it takes for the 290X to achieve its target resolution and framerate to what was achieved with that of the Xbox One being only a fifth of the power, it takes roughly a PC with 200% the power of the Xbox One to run the game at similar resolution and framerate. I don't really see what is 'not much more' about that. It shouldn't ever have to be argued that rendering purely in hardware has major advantage over having loads of additional software in the way like in DirectX.
Looking back it was amazing how Genesis/SNES were able to blow past my 286/386. For text heavy games, PC was much better. For anything fast,, flashy, neat effects, sound etc.... these consoles with 64 or 128k ram and puny cpus ran games much better despite my PC having 1 or 2 mb ram, and intel cpus at 16 or 33 mhz. And that's excluding needing to buy a sound card and speakers. And Genesis/SNES still sounded better.... esp. SNES's sound chip.
If PCs could somehow harness the raw power it has without all that background stuff eating up power the PC games would be much better.