I have a PS3 because it's dead simple to buy a game, pop it in, and just play it without worrying about anything else. I would never use this, it defeats the purpose of the ps3 for me. I'd rather just spend $20 on a game.
There can be more done with something like this than just pirating.
https://en.wikipedia.org/wiki/Greatest_Hits_%28budget_range%...
Edit: also, Jet Set Radio HD! ~$12 IIRC.