If I want a new laptop or build a new gaming PC, it'll cost me 900-1100 CAD. How is that cheaper then the PS5?
Well, first, games on PC cost cheapers, you can get countless of deals out of them on many websites. On that front you recoup costs that you will need to spend outside of buying a PS5.
PS5 exclusives are now coming much more on PC than ever, but not XBox.
Long term, your PC can last more longer with the proper care and updates than a console. I'm not someone who likes to open my PC and change stuffs inside, but I know a lot of people who can do it for me for cheap, so I think spending this amount on a professional to do the update is worth it compared to just buying another new console altogether.