The price doesn’t indicate anything other than what the seller thinks the customers are going to pay.
Companies are going to build their products as cheaply as possible. If they can make a car for 50$ they are going to do so. And what you just said is the reason why they are not going to sell it for 50$ but for 5000$, and you will immediately think that it must be less crappy.
I can show you tons of products that you can buy directly in China for half the price that you would pay over here in Europe, and I bet you that a lot of people reading this will think “the Chinese product must be a cheap knock-off”, and the only reason you have is that just because something is more expensive people expect it to be better.
I bought a wireless computer mouse in China for 3$ including shipping, and it’s working fine. The Bluetooth headphones that I use daily cost 5$. We are so used to the prices that sellers ask for that most people have no idea what things actually cost to produce.
‘Your claim that “way more stuff is running at the same time” is only true if the PC user deliberately decides to keep other programs running alongside their game’ - So did you deliberately decide to run virus scanners, Microsoft telemetry, anti-cheat-software, preloaders for browsers like Chrome so they start up faster, explorer plugins and the usual assortment of bloat- and malware? No offense, but thinking that nothing ran on your computer unless you deliberately start it is naive. Why do you think there are so many “PC-Cleaner”-Tools? Even for Android there are “game modes” and “memory cleaners”. I have never seen anything similar on a gaming console.
‘It is true that while developing for PC you have to take account that different people will have different hardware, but that problem is solved by having a graphics settings menu.’ - And what do you think who designs the content that you choose from in that menu? When artists create meshes and textures they have to decide on resolution and polygon count. If your graphics card simply does not have that much memory then the performance is going to drop significantly. So if you want to have the option to lower the graphics settings you need to have assets that require less memory. I mean sure, some engines offer generic settings menus and there are algorithms that lower the memory footprint of assets algorithmically, but if course the result won’t be the same as if the assets were manually designed for that size. And if the assets are designed for a lower footprint a slider won’t be able to magically add details. The same applies for shaders. If the performance of the hardware is not sufficient a generic settings menus will only switch off effects, and unless you create an alternative the result may look pretty rough.
So that settings menu may be a solution for the players, but for the developers it means that all the options you can choose from need to be developed and tested, and that takes time and money.