I happen to think it is cool Sony did this. However, their approach has resulted in something that hasn't come off right, and is hard to make it come to life. Several things:
1. WTF, lines? Of all the immersion things you don't want to simulate, it is lines. Usage of items is restricted just like it is in real life. I guess Sony wants to force people to buy virtual items so they can play them. But, for me, all that does is make me not want to show up at all. I am sorry, I am not logging on for cute.
2. The lack of a decent way to chat. Unlike with the XBox 360, where you get a headset when you go online (or they are cheap, along with the typing pad), you get nothing. So, you log onto home and have to cue up, "I have no keyboard". They also disabled mic capabilities to from time to time.
3. The lack of content. This is getting better. However, since home is a sterile world, and companies control content production, the world has a hard time getting new content. Sony decided to do a "Let's go beta launch" in order to get it out there, to get people to show up, so that content providers will be able to show up.
3a. The online games suck for the most part (outside of Carriage Return). Why would even play those games offline? Ok, it is getting better, but commenting on what was there first.
4. You have to install EVERY SINGLE PART OF THE WORLD on your PS3. Content isn't streamed to your machine as you play. You have to install a new area each time there is an update.
I could go on about other issues. As of now, while I think Home is theoretically cool, it is still not there. I have not much motivation to log on, and I am certainly not planning on spending money there. And if it is mostly for cyber, that has to be the lamest thing on the planet. Sheesh, log on Second Life if you are that need to do stuff like that. It is free, and works on any modern PC.
Actually, speaking of Second Life, there is nothing Home provides that SL doesn't.