Alright, I'm sure most of these things have been said already, but this is a type of thread I haven't really commented on before, so here's my 2 cents. Or maybe 25 cents.
I grew up on PC gaming. I had a NES, and an Atari before that, but games with more depth were only found on the PC - mainly adventure games that actually told a story. I used to love PC gaming. I bought most PC games that came out in the early 90s.
Over the years though, it got prohibitively expensive to continue PC gaming. Whether or not this is true, I felt as if the gaming companies were in cahoots with the video card manufacturing companies. Every year it seemed as if a new game was coming out that couldn't properly be played with my old video card. This is extremely annoying.
(for those people who argue you can still play these games with the graphics turned down, this is not an argument I find particularly compelling. It's like I bought a Ferrari, but the dealer was like, "Oh, but I need to slash the seats first, and take away the CD player, and maybe give it a clunking sound, because you can't afford to put the right kind of gas in this car. If I pay $60 for a game, I should be capable of playing the same game as everyone else who pays $60)
This hidden cost of the games I was playing became too pricey for me, as I discovered I was spending an upkeep cost on my hardware every year. I got tired of reading reviews where people were saying how gorgeous a game looked, and mine looked like crap.
When the Playstation came out, things changed a bit. For one, it was the first time I ever saw truly good graphics on a gaming system. And when I say truly good, I mean graphics that rivaled PC games at the time. I no longer had to be jealous of my brother's rig. My game looked the same as his. Not only that, the following year when I bought new games, I didn't have to buy a new video card to play those games the way they were meant to be played.
Also, I didn't need to sit at a desk to play my games, I could sit on my couch. And, I could play with my friends, something completely new to me, since online gaming wasn't really huge back then.
TLDR;
So I guess what this boils down to, is console games are simpler and more comfortable to play. So they won out over PC gaming in my house.