It’s through the floor compared to what you would have had to do to mint a PlayStation 2 title.

The existence of "AAA Clock" and several clones of the concept points to a very very low barrier to entry.

I'm not in the industry, but I've heard that for a lot of lower-spec/lower-budget games the original dev house never actually touches a console SDK. Instead they develop on PC with Unity/Unreal/FNA etc. to a console spec (in terms of target resolution, asset detail, mandatory behavior, etc.) and then hand it over to the publisher, which has a team or contractor that specializes in turning those intermediate products into a shippable console game.