I don't think consoles have anything to do with the change.
I wholeheartedly disagree with this assessment. You may not be following the PC space in that period well enough. But, in reality, the cause of all of this trouble is the 7th generation consoles, X360 and PS3. Ever since they started shipping, and hell broke lose on PC.
1-Games would release on consoles but not PC, with consoles having so many exclusives not available to PCs at all. COD3 never got a PC release to this day!
2-PC had way lower exclusives than ever before, all games migrated to consoles, even strategy and shooters.
3-For Multi-Plat games, PC versions would release much later than console versions, sometimes by up to a year later (GTA V released 18 months later!!!)
4-Many games would release DLCs on consoles alone, and ignore PC completely!
5-PC versions would release with the console versions unchanged, the visual settings unchanged, even the button mappings relied on console controllers and not Keyboard/Mouse!
6-In some games you couldn't even change the resolution from 720p or 1080p, and we started having the great phenomenon of locked fps in PC games, 30fps/60fps lock!
7-The holly grail of unoptimized ports started pouring in, with many games suffering suboptimal performance, and the lack of any visual upgrades over consoles.
8-Games would be released on PCs with older/lesser graphics than consoles, see FIFA, PES and other sport games.
8-Any cutting edge development stopped immediately, no more games with great physics, no more games pushing the visuals to previously unforeseen levels, most games had the same visual makeup of UE2/UE3 era, despite the PC hardware being significantly more powerful than consoles in that era (starting with the mighty GTX 8800).
9-The "consolification" of gameplay and streamlining of game elements for the sake of making the game accessible to consoles (see Crysis 2, .. etc).
Back then, developers migrated to PC in hordes, thinking that Piracy is preventing more sales on PC, and thinking all the money is on consoles, they also thought PC players are the minority in numbers, PCs also cause more headache to develop for with their many configurations, so developers flocked to consoles in droves, where copy and paste games (at least visually) where the norm.
Now developers realized they are so wrong, and everyone is coming back to PC, companies are porting their entire backlogs of unreleased PC games back to PCs, and all the console exclusives are getting released on PC. Steam revolutionized the purchasing experience and showed how PC players are the majority in numbers, not the minority, and that many of them are willing to pay for games, and in fact are not pirates. Several games/developers are also targeting PCs primarily whether from a strong graphical standpoint, or from a free to play perspective. Ray Tracing is helping in this regard tremendously, as immediately after it's inception the amount of tech demos and games released with major visual upgrades over consoles have shot up significantly.