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There are really no negatives here aside from the small potential of people not paying up, and if they require checking accounts or something else just to sign up, even that risk it minimal.

But the positives far outweigh them. You get more consoles into homes earlier in the generation. This puts more software in homes and makes Sony more money. While Sony loses more money upfront on the expensive hardware, they are still collecting money every month to offset that. And for gamers, if you plan on buying the console and owning it all generation, a cheaper entry fee might be what you need to buy the console, as opposed to waiting for a price drop.