You can hook up a controller to your PC, hook up your PC to a TV, and sit on your couch. The advantages of consoles have now disappeared.
I don't want to start a flame war either. I've spent most of my gaming career on a console and have only gotten into PC gaming in the past few years (discounting some games I played when I was young.) But now I can't really see any reason to get one of the consoles. Any advantages I thought the had, and that people in general argue that they have, are based on a misunderstanding of the adaptability of the PC. They are just as easy to use. I have an XBOX controller adapter and an HDMI cable that hooks up my rig to my big screen.
The only advantage I can really see is that for a console your any warranty repairs do not require customer diagnosis and you can send everything to one place, rather than having different manufacturers for your different parts. But honestly, if you're willing to pay a little bit to a computer shop, this problem goes away as well. And besides, if you take care of your equipment (as in not dropping it or spilling on it) this should only very rarely come up.
So to the OP, I would suggest buying a new gaming PC "just for ESO." It'll cost you slightly more money, but you'll get a better gaming experience with more games for less money, better graphics, faster performance, a more mature community, and much easier upgrades.
Your PS4 will still be a PS4 5 years from now. If you get a PC, you can swap out one part (graphics card) for a couple hundreds bucks and it'll be like getting a whole new machine (the difference in graphics/performance can be like a console generation.)
Honestly, I'm almost glad that Microsoft made so many offensive attempts to limit consumer rights. If they hadn't, I might very well never have looked into PC gaming seriously. Once I did, I was surprised how easy it was to learn about and get into.