Consoles used to have a time limit it seems.This is *BIG*! I forgot about this. Consoles do have a time limit on them as well as backward compatibility issues whereas the PC has a much much longer time limit where the hardware performance is the limitation (which can be scaled down to run) and no backwards compatibility issues per say.
ps4 never died. It lives and thrives on ps5. I suppose ps6 will be the same.
And older consoles still have some best version of games.
But generally sure - console lives during it's support time