No, it was just the last gen of consoles lasted so long. The bigger benefit is on the dev side by having a single hardware target and also hardware that can be put together much more intimately than a PC to really milk its performance. Though that could also benefit consumers because they could get the best performance experience for the cheapest amount and it would take PCs time to catch up in either absolute or affordable performance. The last gen of consoles was arguably the last gen, the current gen has been much less console-like in many ways. (You could build a PC matching the PS4's capabilities on the PS4's launch day for less money. The xbone almost shipped without disks.)
You don't have to. It will still play current and future games at 30 fps or so - which if you are on console in the first place you are probably okay with.
