I know, I spent a few months this year simplifying shader code designed for the PS4 in order to run on mobile devices. We basically had to scale down from SM5 to SM3, not an easy task :)

Its not because shaders are now turing complete that its a free pass to use these features all over the place, they often come with a noticeable performance cost, which I admit is lesser and lesser every year, but still.

Also, having recently completed the port of a next-gen AAA title, I can definitely say most shaders stay far from turing completeness, even on current consoles. We shipped the game with at least 75k generated shaders and I'm fairly certain less than 20% of them made use of those features.

Finally, the numbers you mention are from an ideal benchmark case and assuming GPU usage is maximized. Real world conditions will definitely lower these numbers.

Modern consoles GPUs have dozens of metrics in their profilers and every single one of them can be a major bottleneck. Its near impossible to achieve 100% GPU usage in a game. We're happy above 80%.