That depends on what you means by "cheap game consoles" and "cheap internet".
The internet prices really shouldn't be going up as that provides a direct impediment to the other subscription services that everyone and their dog wants to force everyone else into. More money for ISPs means less money for subscriptions, because you need the internet connection to have the subscription work in the first place.
Modern game consoles are a lost cause at this point. They haven't fulfilled their original purpose of "plug it in and play instantly, no fuss" in over a decade. (Day 1 updates, microtransactions, DLC all over the place, installation of the the game to internal storage / SD cards, etc.) The games themselves don't need a special purpose platform anymore (the consoles) because most dev studios use generic game engines like Unity or Unreal that have the hardware complexities already figured out and dealt with for them. Add in that the cost of these things keeps going up compared to PCs both in terms of initial purchase price and the price of new titles, (Steam sales are a thing), and the consoles have no real* reason to be purchased any more.
One possible avenue for revival of game consoles are the older ones that can have new titles released for them without the original manufacturer's approval. I.e. Game Boy, N64, Genesis, NES, etc. and to a lesser extent the Dreamcast. (Due to aging unique optical media lasers that lack a proper modern replacement.) These can have new titles made for them using OSS devkits, then distributing those new titles online. (Either for free or paid and shipped.) Most of them are out of patent protection and have new reproduction hardware made by third parties for sale too. This can't happen with newer systems due to their use of modern encryption, but for the older ones, it can be a method for smaller studios to make some fun games for widely available and well understood hardware at a fraction of the cost of modern AAA development. Even better, if those publishers can work out distribution deals with some of these old second hand shops, they'll also be able to get some extra exposure. To say nothing of just selling on Steam and bundling a preconfigured emulator with the game.
So there's still options out there for cheap games, and cheap internet is practically a requirement for the economy at this point. (Cue ISPs reading this post, jacking up rates due to lock in, and the lawsuits and backroom (prioritization) deals to follow.) The attention problem should remain for quite a while yet base on that criteria.
*: Nintendo consoles are an outlier only because of their first party exclusives that Nintendo refuses to release anywhere else. A fact not true of other competitors, and one that Nintendo only gets away with because of those competitors having their own hardware offerings. Take that away, and Nintendo is going to have it's core demographic (the wallets of parents / grandparents) revolt due to the extra complexity and physical mess involved vs just buying something on Steam like everyone else in the industry expects.