It is a full console with its huge library of games but also:
The console is also a Blu-ray 3D, the only one able to play 3D games certified, a media center to read whatever is on your computer, the only one able to store their videos-photos-music on the big drive hard (depending on version) and is the only one to have a REAL free online mode.
If you do the math: a Blu-ray 3D + network media player + an external hard drive back the same price as this console.
But it's really a treat to have it all together in the Playstation 3.
This is a long term investment that pays off!
Enjoy the game