This seems commonly believed but isn't really accurate at all. For instance here [1] is a build to play Cyberpunk 2077 for less than $450 (low, 1080p, 50+ FPS). And that game is clunky, and that build is valuing price > performance. Add a couple hundred more and it'll run that game (or any other) like a beast.

Also, especially in modern times, keep in mind how real inflation has been. That $900 PC from 10 years ago would be $1200+ today.

[1] - https://www.xda-developers.com/cheapest-pc-to-play-cyberpunk...