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It is a bit of a mixed bag. I don't think they have any effect on the major games as there sales are all heavily front loaded by enthusiastic buyers that aren't going to wait months or years for them to become available for "free" on their paid subscriptions.

HOWEVER, I do find I no longer buy random games that look mildly interesting. I either buy the major releases I am interested in or I give various games with gold games a play. e.g. this month when I am bored with Dirt Rally I play DG2 rather than looking to buy something else.