For ~$650 you can probably get around PS5 performance if you build the PC yourself. I mostly play old 360/ps3 era games, so my crappy 8th gen laptop already does the job. If you own a PC already that isn't being used for gaming, try running some older stuff on it. You might be surprised by the performance, and it might be possible to upgrade things.

To add to this: you can save a ton by getting a secondhand cpu and gpu from ebay. I used to be worried i'd get worn out or mistreated stuff but then i learned there are a few easy tests you can run for peace of mind, and oftentimes if the thing still works at all then it's 100% fine.