I haven't got one myself but there seems to be more than enough games to justify the current price especially with Zelda coming later this year. I have thought about buying one for Mario Kart 8 to play when chums are around but might wait for it to drop by another £50 first.
If you haven't played them, the only really essential games are:
The Last of Us Remastered
Grand Theft Auto V
After that I would strongly recommend:
Infamous: Second Son
Far Cry 4
Resogun
Velocity 2X
If you get a PS4 sign up to PS+ (£5.49 a month) you get a minimum of two free games every...