The value of PS+ "free" games has demonstrably gone down after they introduced paid online, to the point where most of the "free" games are dirt-cheap and likely not worth $60 a year. If you give me $60 and ask me to buy you six games of my choosing per month on Steam, I can easily cover that and probably make a profit. Hell, a single sale could probably cover the entire thing.
Looking at
the list of last year's games, I find that hard to believe.
I started in 2011 for the monthly games. But the value of the monthly games has now gone down the toilet because online play is now the main perk and Sony knows this.
They could stop giving monthly games entirely and the Plus subscriber count would barely drop at all, nobody cares about the garbage they're giving these days and just want to play online.
I don't think the indies are any worse, than the old retail games the PS3 offered. That being said, there hasn't been that much games to my taste lately, but there has been some good and interesting ones like This War of Mine: The Little Ones, Everybody's Gone to the Rapture, Resident Evil, Lords of the Fallen, Journey, Gone Home, Siren: Blood Curse, and Zombi. And during the three months after the PS4 launch it gave me Resogun and Outlast.
As for the online experience, it's definitely been better when I compare something like Mass Effect 3 multiplayer and Destiny, but whether that has anything to do with paid online service is a different matter.
EDIT: The thing is, since there's more games to my fancy continuously coming out, I have less time to play the PS+ games than I had on the PS3. That's why most of the monthly games have started to go to my backlog by default, since games I've bought come first.