PC gaming has a bleak future, most likely.
1. (unlikely, but preferred) Complete gaming PCs become much cheaper (<$1,000), or mainsteam manufacturers shift from CPU power to GPU power, thus more people buy PC games because they will actually run on a run-of-the-mill craputer.
2. Steam takes over the vast majority of the PC market. This isn't actually as bad as it sounds, compared to the other things that could happen.
3. PC gaming slowly degenerates to being made up almost entirely of indie games, MMOs (unless consoles develop better internet handling), and RTSs (unless consoles adapt to mouse/keyboard layouts).
4. Consoles almost completely replace PCs as the game stations, likely having keyboard and mouse support with prices from $400-$600. Not terribly bad, except for the fact that modding is likely dead and game prices will be even higher in this scenario.
5. Consoles and PCs simultaneously become very expensive, killing most of the video game market altogether.
6. The "world" ends in 3 years, 6 months, and ~22 days from the time of this post. In this scenario, gaming will probably not be our prime concern.