Consoles also had performance advantages up to PS2. The lightweight execution environment and exotic accelerators used in consoles allowed better gaming experience than CPU/GPU at that time. Cycle-perfect consistency of consoles also allowed games to be better "optimized", such as data aligned to boudaries and arranged on game discs to be streamed and such.

Consoles slowly started losing that plot after the launch of Xbox and GPU development mess of PS3(the PS3 CPU was supposed to be the world's first APU but Kutaragi dropped the ball big time) and now consoles are just a Nespresso experience, with just marginally cheaper hardware tied to proprietary full-priced game discs, which is not worth much.

OS argument is practically valid but... Frankly IMO that's more of a disadvantage of PCs coming from horrible near nonexistent engineering discipline of software engineering than an advantage of consoles.