PC gaming is dead… Again

It's June, it's time for your bi-monthly "OMG!
The sky is falling!" article about how the new consoles are going to be the end of PC gaming.

Given the amount of times the PC has weathered the supposed apocalypse, can we even take articles like this seriously anymore? Every time this does the rounds, more and more people start signing up and running around with  "The End is Nigh" on a virtual sandwich board.

It always goes the same way. The next generation of consoles come along, and kick the PC's ass graphically. The console owners go "HAHA!". However, they're stuck with the same hardware for the generation, whereas PC graphics are always improving, and 2-3 years after the launch, the PC is kicking the consoles' collective ass, the PC owners go
"HAHA!", and it stays that way until the NEXT generation launces. Lather, rinse, repeat.