If I want to play the new Wolfenstein, or Watch Dogs, or any "new" game, chances are my 2 year old PC will not be able to run it well (unless I spent $$$$ on it, rather than $$). If I want to play a new game with all the dials turned up to 9 (or 11), I basically expect to spend $1200-$1500 on a new PC every two to four years.
If I look at OLDER games, it's even worse: Will this game even install? I have a giant library of games which I would love to play, but I can't figure out how to get them to run on a current version of Windows. (Sea Dogs, Starfleet Command 3, etc.) These games are ten years old, and I can't even get the installers to run correctly -- or if I do, the game crashes for other "win 8 >> Win XP" reasons. I would pay money _again_ to be able to play some of these games in a reliable way (and have re-bought things for Steam), but most of the time they're not supported anymore.
My Wii will still play Windwaker (11 years old), and I can buy an XBox and any copy of Halo and be pretty confident that it'll run, even if ten years old (assuming the hardware hasn't failed).
* No DRM. I have been burnt several times by PC games on this front.
* No viruses or malware to worry about
* Far fewer updates to install and in general less maintenance
* Warranty - if I build a PC myself and it breaks, I need to fix it (I recognise that for more technical users and/or people with more time, it's a plus that you can fix a PC yourself - but that isn't everyone)
* Compatibility. It's hardly rare to run into issues if you try to play a PC game on launch date, and often graphics card driver updates fix some games and break others.
* Noise and size (it's hard to make a small quiet and powerful PC on a budget)
* Peripherals - there is a standardized set that "just works" for a console. On the PC, maybe half of my Steam library supports my controller out of the box.
And one non-technical aspect which isn't a concern for everyone, but is for many:
* My friends are all on [XBox Live|PSN] and I want to play with them
My stance? I game on PC, PS3, PS2, Xbox 360, Wii, 3DS, iPad, and occasionally on an Android phone. They're all great in their own way. I wouldn't say any of them was better than all of the others on all axes I care about - but if pushed to have just one, I would pick the PC.