I can definitely echo with the consumer trend these days. Once it was handheld game console, then to console, then to PC, then to laptop, then to handheld game console and now to mobile without any indication to go back and forth anymore. And if I have to, I will simply get a Switch and get it over with.
The OP though is missing the point.
It is not the price that defines the value of the product. It is the product that defines the value of the price over another product.
In other terms, consumers are willing to spend more on a phone than on a console because the phone has got a greater value by default. Basically, you could have a phone and a console that cost the same, but the value will still be greater for the phone than for the console. From a gamer' perspective, the cost of owning, maintaining, playing on a mobile phone is much, much lower than a console. And as a third reason, in the mobile gaming market there is no pressure to get a specific phone or brand to play a specific game or a franchise. So there is none of this exclusivity nonsense that only creates unnecessary anxiety or the feeling of feeling excluded from a specific game title or game culture.
So in essence, yes it does make absolutely perfect sense for consumers willing to spend more for a phone than for a console.