I play most stuff on easy/normal if I can. However, I'm also up for a challenge like Souls/Bloodborne sometimes. I think most of the time I feel as though hard/very hard mode is just lazily put in there without much thought or balance. Getting difficulty modes right isn't easy, though. Hmm, I should probably try out The Last of Us on harder difficulties one day.
Edit: this reminded me of games where a "hidden difficulty" changes based on how well you are doing. I remember Resident Evil 4 incorporating such mechanics. Also, easy mode actually left out the more difficult stages out of the game. I think more games should incorporate this fluidity in terms of difficulty instead of the static one you select at the start of the game. It's probably a lot harder to control and get right, though.