Console companies just don't have the resources to compete with GPU makers.
Nvidia's Senior Vice President of Content and Technology, Tony Tamasi, recently talked with PC PowerPlay about the typical comparison between the PC platform and consoles. He revealed that, unlike generations in the past that were on par if not better than many performance PCs at launch, console makers no longer have the resources to jump ahead of the PC gaming hardware market. This became obvious during E3 back in June, as many demos showcased on the Xbox One and PlayStation 4 just didn't look as good as the earlier PC versions.
Consoles will always be less capable than a PC because they have power budgets of only 200 watts or 300 watts – they're designed to run quietly and cool in the living room. On a PC, 250 watts can be used solely on the GPU, thus consoles will never beat a 1000 watt PC. In a chart provided by Nvidia, the trajectory shows that consoles will never equal or succeed the PC platform again, that the tiny window between 2005 and 2006 will likely be the last time these two industries will ever be on the same page.