I love gaming, too. I have found that switching to PC gaming has actually saved me money and taught me a lot of new computer skills.
When you console game, you have a closed environment on which to play specific games and you generally cannot update the hardware without buying a new console/version of the console (although there are exceptions). You can resell physical games, but things are moving so fast toward all digital and so many games are bogged down in DLC/exclusive downloads that reselling may not be something to bank on. This set up works for a lot of people obviously, but I think we can all do better.
PC gaming can certainly have a higher dollar cost at the outset. To build your own gaming PC, you are probably looking at something in the neighborhood of $1200 or more if you build with all new parts (but you can of course source used parts, which adds time but saves money). But there are numerous positives.
Firstly, you learn a lot about how computers work and what goes into them. You build one PC and you've already done more with the nuts and bolts of computing devices than most people ever will.
Secondly, the environment is not closed, so you can play many more games than what consoles offer. This comes with issues inherent to any freer computing environment. Settings may not jive, you may need to download extra stuff (drivers, updates, config files, etc.), you will run into weird errors, etc. But this is only provides further learning opportunities.
You didn't hear this from me, but if you're into retro gaming you can download emulators and their corresponding ROM files and essentially not have to pay for games. I know this is frowned upon in some circles, but honestly why hunt down some NES or Atari 2600 game in a retro store or on eBay and possibly pay a lot of money to be able to play that super old game when you could just download it.
For current games, Steam and GOG (probably others too) often have super steep sales. I got Watch Dogs 2 for $12.00 on a Steam sale when it was previously nearly $60.
If you want to update specific pieces of hardware, you can do this. Just find the new part, ensure it's compatible, and swap it out. It's your machine - you built it. Do what you want with it. And if you do it right, your machine will last as long or longer than a typical console life cycle. I've had my current PC since 2016 and it has held up very well.
Lastly, while consoles have become general entertainment stations over time, PCs are the ultimate one-stop-shop for all things entertainment. We don't use any consoles, set-top boxes, or other sorts of attachments for streaming services or other digital entertainment. We don't even have our TV's smart capabilities set up. We just run everything through the PC. Nice and streamlined.