I don't see any point in upgrading at the moment, regardless whether it's PC or console. I am not going to buy overpriced and poorly optimized "triple A" games, and even mid range 2020 hardware is still perfectly fine for indie games and older classics that to me are still better and more replayable than almost anything that comes out today.
If i'm being completely honest, i've probably regretted 90% of game purchases i've made since 2010, and I wasn't even one of those people who buy a lot of games all the time. So for about two or three years now I've basically stopped buying new games altogether, because I don't actually end up playing them. I can't help that i just keep going back to the same ones I've been playing for 15+ years.
And i'm totally happy that way, I don't need new hardware, I save a ton of money and I can afford to go out on more weekend trips with my wife.