That's why pc games are cheaper. Compensates for the overly priced parts (I do agree on that part if i'm honest). But then again, Xbox and PS3 are still on DX9. Pc? DX11.
Current price of an Xbox 360 is roughly £150. Whereas a PC that can play modern games acceptably is around £500. And one that play even more advanced games on full settings probably closer to £1000. Though a lot of people complain about consoles being expensive, and they are, but they're truly the more cost effective option.
And don't even get me started on the whole simplicity side of things.
I'll admit, I'd love to be a PC gamer, with the mods and such. But it's just not something everyone can afford. So consoles are the money saving option that still allows you to play great games.