> Consoles made sense as a product category where specialized graphics hardware was not generally available for consumer PCs.

This has almost never been true. GPUs existed, and were being used, before the N64.

Your comment also begs the question that the console consumer has transitioned to a gaming pc. They haven't. Gaming PC sales (and hardware) are at all-time lows, except for GPUs, which should probably be renamed to Model Training Units.

I would posit that what we're seeing is a reflection of a content problem, not hardware. Video games have gone the way of Hollywood, with sequels and derivatives, and an uninterested consumer base. People would rather watch a YouTube video of someone playing a video game than play a video game.

What PC GPU was in mainstream consumer use before the N64?