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Because we get free games and while MS is starting with it too: They're offering rather old games (we're talking Gears 1 and Halo 3 here  but still its a start.)

I was subscribing to PS+ before it was needed for PS4. I have like 20ish games in my backlog thanks to it. Its due to PS+ that I fell inlove with Sleeping Dogs! So yeah you cannot debunk the value you get there.