A a year's worth of rentals for a year of PSN+ is just a *tad* bit different than renting a game for an evening or weekend as a single transaction.
It should be pointed out that any content purchased via PSN+ discount is permanently active. No rental or restrictions there.
While I wouldn't be one to want to restrict myself solely to what was offered on the free games queue (I prefer to buy my own games although I still see value in the discounts if one buys a lot of PSN content), the reality is a lot of players aren't so picky or don't play dozens of games every year and don't feel the need to actually buy any retail games if they pay $50 for a year's subscription. At all. As in buy nothing else. For a library of full games.
The only thing I get out of an XBL Gold subscription is the ability to play the handful of exclusive Xbox shooters online after I've already purchased the games themselves. There's something fundamentally wrong with this business model for consumers.
All the other services I have access to on all my other online devices, so that's hardly what I'd justify a subscription for. Cross game chat? Don't use it; don't need it. Not even worth a plugged nickel to someone like myself.
The end result is if my subscription isn't current, I won't bother buying the Xbox version of any game if I can play it on PC or the PS3 or any other device. As a result, the Xbox sees very little use. Halo 4 was the last game and may even be the last game I buy for the system unless the next Gears of War convinces me to pick it up. Never finished Gears 2 or 3 and spent less than a week playing each online, so probably not unless it legitimately brings something new.







