At first I was going to post the obvious reply, PC gaming won't die, but then I thought about it.
This is the scenario:
The console war becomes so popular that computer guys want "In" on it too. So Microsoft and Apple both develop consoles. Because both companies are used to making computers, they'll basically do just that, they'll make computers, rip out most of the features and market them as "consoles". Heck, one of them might even use one of their own operating systems and hope that console junkies don't notice they're playing with Windows 2k. (Oops, was gonna leave out specifics.)
Either way, for some reason, these new retarded computers are accepted into the console war for the same reason you can enter a handicapped jogathon by chopping off some of your limbs.
The real console companies realize that now they are competing directly with computers, which have always been, or had the ability to be superior for a multitude of reasoning. So the console companies have to compete by making they're consoles slowly into computers, they add web surfing, instant messaging, and the ability to get viruses.
Then all the consoles eventually mutate from PCs for the casual gamer into computers that don't work right and are expensive to upgrade. During this time, however, they keep the ability to use handheld controllers, even though every console adopts some form of a mouse and keyboard. They also keep the name "consoles" even though with operating systems and PC parts they're no different from a badly crippled computer with AIDS and a joystick.
Since all the companies at this point realize "console" gaming is where the money is at, they simply stop marketing PC parts, and sell them as "Console upgrades", add some ram, swap out your video card, that kinda crap.
Therefore, nobody works on PCs anymore, that word is in fact taboo, you must refer to it as a console, or "gamebox" if you're to old to understand technology.
Poke a hole in my theory, go ahead, give it a try, then go play some Halo on your retarded PC, I mean xbox. (Heh heh heh, yer such a friggin' tool.)