It's the performance vs programmability tradeoff.
The article references it.
As one goes back in console history, the performance to achieve contemporarily visually-stunning results required exotic architectures + hand-tuned code.
Over time, state of the art PC + GPU hardware improved, to the point there wasn't a functional difference vs exotic architectures. Additionally, the cost of developing leading-edge custom architectures exploded.
Microsoft really pushed this with the original "PC in a box" XBox, but you saw the console OEMs outsource increasing parts of their chip solutions after that.
Why keep / buy entire chip design teams, when AMD will do it for you?
Especially if the performance difference is negligible.