You're trying to say that development for consoles is coming to an end because it's not profitable anymore - which is just blatantly untrue, this isn't "my friends at Gamestop" (Protip: Not been in a Gamestop in nearly a year now - and the only "gaming friends" I really keep anymore is this forum) this is just me with my MSHRM understanding the basics of a profitable business. [Frankly I think even without it and basic econ from high school I would get it]...
The accurate thing to say is perhaps that it's "become more niche" (which is quite likely accurate, look at some of the recent "Greatest Hits" style titles all are pretty narrow in their appeal) with AAA publishing being much more diverse.
Especially with the hurdles to develop for the consoles being reduced with the newest iterations of the consoles the idea of them ignoring an entire extra demographic is extra laughable. Don't get me wrong, PC's are great - I love mine, and it's beefy as hell for what I do on it - but not all games are a best fit for my PC.
But sure, mindless megacorps like EA might start seeing consoles as not worth trying to throw together $500m+ budget games together if the markets constrict - but then again the hurdle to just doing cross platform development is pretty trivial and profitability shouldn't be hard to achieve with any level of installed base if the game isn't garbage.
[Also note of course that the PC always tends to resurge a bit during the last year or two of a console cycle - since PCs upgrade constantly versus at intervals its quite obvious to see why PCs are popular at the end of a cycle...]