To purchase a seventh generation console right now would not be ideal, but you will indeed get it as well as a ton of accessories for much cheaper than it was a year to two years ago, not to mention the inexpensive games. Microsoft in particular is releasing two popular games free for Live Gold members every so often for their system, so is it worth it if not purely for the games? You bet it is! There are still titles being released for it as well as for the PS3. It has not run its course yet.
In fact, as I recall, the PS2 still released the odd title here and there up to two years after the PS3s official release. The same trend will occur with every system since developer studios need time to adjust to the hardware capabilities of the newest systems to get an idea of what they can do to bring better, more beautiful content than before.
The thing is, though, unless you have friends who are not getting a PS4 just yet, if you have the money saved up, it will be more worth it to purchase the latest console instead. The games will be expensive for a little while, but if you are prone to a sort of "consumer syndrome" where you wish you got to experience the latest thing instead, then it may not be in your best interest to get a seventh gen. The games are not obsolete on it at all yet, though. At least until we see what the eighth generation is capable of. This is close to seven years of technological innovation we are talking about here since the birth of the PS3, so we can all expect some brilliant things from new games.
