It's a fail at that price and that feature set IMO.

Not only can it not stream PS+ games independently, it can't stream them even if connected to the PS5 via Wi-Fi. Severely limits its utility and appeal.

If it can be used as an extra controller even when using the TV then it might just be cool to have around just in case.

Accessoires are always expensive, same goes for special controllers, PSVR and pretty much everything that isn't mass produced. Compared to PSVR2 it's way cheaper and around the same price as the dualsense edge.

I noticed the line about "supported games" so unless this thing really takes off, it's going to be a hard sell for studios outside of PS Studios to actually support the device. 

I think Supported Games is just a catch-all term meaning everything that is not PSVR2 or PS+ Streamed game or games requiring a special peripheral. I can't imagine devs would have to put in much extra work for a regular PS5 or PS4 game to stream to this device.

DOA

They're just talking about non PSVR2 games (and PS+ cloud streaming games).  

Pretty much every game already supports remote playing to a phone/pc/mac, I'm not sure why they would need to do any additional support. 

It's not really my forte but I'm loving the name lol.

I wouldn't say this is a failure.

It may be a bit disappointing with its feature set, but I'm sure this will be one of the best selling accessories of the year, and it should be profitable for Sony from the start. 

So... you admit that it isn't cheap then? :P

But yeah I do think all of those are expensive for what they actually provide, but this one in particular. If you were to list off its features you'd have a one item list:

• You can play your games in another room, I guess

That'll be $200.

I think the price is fine for those that want it. It's not something I'm interested in unless it fails miserably and starts getting discontinued in stores for $50 or less.