If I'm running a software business selling software that runs on 'consumer hardware' the more people can run my software, the more people can pay me. For me, the term means the hardware used by a typical-ish consumer. I'll check the Steam hardware survey, find the 75th-percentile gamer has 8 cores, 32GB RAM, 12GB VRAM - and I'd better make sure my software works on a machine like that.
On the other hand, 'consumer hardware' could also be used to simply mean hardware available off-the-shelf from retailers who sell to consumers. By this definition, 128GB of RAM is 'consumer hardware' even if it only counts as 0.5% in Steam's hardware survey.