I don't know if I'm crazy, but that could literally kill PC gaming in the US, in my opinion. At that point, consoles absolutely run away in the competition of value.
It won't, not even by a long shot. Twenty years of PC gaming and numerous booms, busts, corporate greed bullshit. PC gaming will be fucking fine, this is just another blip.
You must be young.
These things happened before and it will happen again. You see, PC Gaming cannot be killed, because it belongs to everyone. We will endure. If anything, it will hit harder on console shortages or lack of demand.
When smartphones hit their peak, there was a big memory shortage, this ended up affecting the PS5 launch as well as PC RAM sticks and GPUs.
When Microsoft tried to enforce the Windows Store during the Windows 8 lifecycle, Valve responded by creating the first iteration of Steam OS, they launched their initiative and failed. But MS took note and stopped trying to force the store on Windows 8. Valve distrusted MS, so they kept investing in Steam OS so that it could become what it is today.
When 3DFX GPUs were expensive, people favored consoles for one generation, but that passed too and PC gamers came back in droves.
You see, Playstation can go bankrupt and never make a console again, as it happened with SEGA, NEOGEO, ATARI, and more. Maybe it will happen to XBOX consoles in the future. But PC Gaming is the sum of a multitude of companies which cannot close shop simultaneously.