Eh, it depends.
If you want the cheapest PS5 today ($450 Digital) and you pay for the most basic PS+ ($80/year) through to PS6, you're spending $450 (plus tax) + $240 = $690 in totality for just the hardware and online play for non-F2P games.
Now let's also consider a lot of people who'd be buying a PS5 at this point don't care that much about performance, i.e they don't need every game to be top-of-the-line PS5 level performance. They just want something that's "good enough". Meaning, if that player were to consider a PC, they wouldn't need something equivalent to a PS5: they'd be fine with something a bit lower-spec.
That type of gamer could probably find a PC just around or a bit below PS5 spec (it could be a case-by-case depending on the game) for $700 or less. Meaning for the performance that's "good enough" to them, they'd be paying generally equal to a PS5 and getting all the necessary features like online gaming included in the package. The pay for PS+ combined with generally higher game prices really starts to cancel out price savings for the prospective PS5 purchaser compared to a PC.
I don't get where the idea that all or even most PC gamers need top-of-the-line or beefy gaming rigs to game, but even Steam surveys should show you that a lot of PC gamers are fine with modest or lower-end specs for AAA gaming. And those are probably a part of the group who'd be the ones looking to buy a console at this stage in the lifecycle.
PS Plus isn’t mandatory and honestly ridiculous to put into costs.
Why not include Microsoft Windows software cost too?
Heck why stop there? Put electricity costs into the argument too lol.