In developing world, mobile gaming is bigger than console and PC due the price difference in PC/Console and mobiles. I think this trend will continue. It is a whole different world out there.
for 317 you can build relatively decent PC without GPU, so add something like 200$ and you can have decent setup for maybnewest games like Cyberpunk on mid settings
I bought GTX 970 and Ryzen 7 1700 for 240$, but it was 2 years ago
In the early 2000s you could reasonably expect people to have access to a desktop computer of some description and this advice would've been somewhat valid. In 2021, nobody really assumes you have access to a desktop computer anymore, but we do assume people have access to a mobile device of some description. In that world, a $300 mobile is a much saner investment than a $300 PC for most people.
If you count only flagship mobiles, sure. Many outside the US and on low incomes don't buy those, because you can get something very decent for less than $200 (which is way less than a console) and it will still handle games.
Switch is okay, but if you go for PS5 or XBOX, you will need a TV, also some space to store and use it, and dedicated time for playing. We haven't talked about the cost of games yet. Overall, consoles will be too expensive for developing world, mobiles is something you already have, and games are mostly free.