>>714904689
>Is it even possible to build a modern gaming PC for under $700?
Yes.
I did so for 550€ last year:

>Ryzen 5 5600X
>Asus B550 Pro v2
>32GB DDR4
>RTX 3060 12GB
>750W 80+ Gold PSU
>Burning BDD
>1TB SSD + shitton of big HDDs

Runs anything at 1200p, at least 60fps.
Which is literally double the performance and resolution the modern consoles can do (they use FSR-like upscalers to reconstructs images from ~720p, often running at 30fps).