This is subjective. Have to look at a few things.
We know it has 500GB.
How much space does the OS occupy? Could be anywhere from paltry 5GB to massive 50GB, I have no idea.
How much will a game take up? We don't know that as well, so I'll use the 5GB to 50GB there as well.
How much will all those extras for a gamer (DLC, videos, music, etc.) Again, hard to say, could vary from 5GB to 50GB as well.
So, best case scenario 500GB gets you the OS and 90 games plus extras.
Worst case 500GB gets you the OS and 9 games plus extras.
There variables are key to answering this question.
What does the average consumer get in terms of games?
I have *checks* about 50 games on my PS3 and I want to say on that system with 500GB no issue of space limitations yet. My guess is most people have about a dozen games or so for their system.
If next gen is comparable it won't be an issue, if there is a significant uptick in data required then have an issue. Much of this hinges on the idea of mandatory full installs of games that has been stated. So, simply put, until we have more information really hard to say.
