[Xav101]

The slowdown in incremental GPU and CPU performance improvement has allowed the consoles to catch up!

Not really. It's just that the PS5 will now be using current gen hardware instead of 2013 hardware which was only a minor improvement of a 2011 architecture that was already underpowered at launch and barely beat out AMD's Phenom chips from 2010. If the PS5 lasts another 7 years the hardware will be underpowered again, until we get a future "PS6" or whatever it's called.