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Bundling a game or two offers value for the consumer at the expense of the manufacturer, developer, and publisher.  The intention is that by giving away a game you generate additional hardware and software sales (long and short term). 

The thing I think that's going to bite Sony in the ass is giving away games full-outright with PS+.  The intention of PS+ is to subsidize PSN.  Giving away a single player game doesn't negatively impact the service, builds value with the customer.  The only challenge of it is that it puts a strain on the network.  That aside, it's the multi-player games given away for free that just shoots Sony in the foot.  It builds value for the customer, but it costs Sony if a gamer continues to play the game after they allow their PS+ subscription to lapse.

I don't think Sony knows how to make money.  Yes, they know that gamers like free stuff and they're doing their best to give away as much as possible for free, but the end result is that it hurts their bottom line more than it helps it.