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I keep buying games at the same rate as before, even with PS Plus offerings, although my backlog just keeps increasing.

I have been buying more digital games, though. Some PS Plus discounts are too good to pass up (such as Sega's classics for $1, among other PS Plus-only deals).

Note also that nearly every game given by PS Plus has some kind of DLC available. I bet Sony and other publishers are getting some good cash out of DLC sales on these free games.