Major convenience of the console is not having to go through all the fiddling wit OSs, game tweaking, system building and so on. You stick the disk in or download the game and you`re good to go.
On PC, not so much. Now, me and you might enjoy the voltage porn and having 7 different programs controlling the settings, but most of normal people don`t and I don`t blame them for it.
Other thing is, once you`re on the couch and have that big TV, visual fidelity is pretty good, bar the frame rates. But the funny thing is half of the PC master racers I know crank the settings so high up their fps are a joke too...so there you go.