It appears that with the new generation of console hardware came a significant increase in tech requirements for pc games. Is it reasonable to expect that if a new pc is able to play this new generation of pc games on the highest settings that it should be "future proof" until the next generation of console hardware is released?
In other words, do pc requirements typically plateau after a new gen of consoles and then make a big leap with the release of the next gen? Or, do pc requirements tend to climb more steadily?
I'm asking to try to educate myself about whether I should try to "future proof" a new pc build by spending more on certain components, or just buy a pc "just good enough" for now with the view that it will be ok for the next several years.
It depends on the game and your expectations, but generally, yes.
If you have equivalent PC hardware to a PS4, expect to play games at PS4-like settings for the rest of the generation.
However, in 3 years, when you can pick up a 21:9 3K monitor for cheap, when developers are putting extra effects and more demanding lighting on the PC version of games, will you still be happy with PS4-like settings? For some people the answer is yes, and they can enjoy gaming without upgrades.
For me, personally, the answer is usually no. It certainly was no last gen, where I could not stand the SUB 720p resolutions, the 15-30 FPS, the outdated shadowing and lighting, the 10 dynamic particles or so that still managed to drag the framerate down, the jaggies, the super low resolution textures, the lack of AF. Console gaming say 2-3 years after the start of last gen was just really bad, and only got worse.
By the end of the gen I was sporting a 1440p screen and I play all my games at 1440p/60 FPS, ultra settings - something no last gen (or current gen fo that matter) console can achieve.
But I'm not everyone, and PC gamers are happy with all sorts of setups, that's the real strength of PC gaming, IMHO. The gmaing experience is whatever you want it to be, rather than what you are told it has to be.