Something is not right here as most of the guys reasons have nothing to do with the PS4 even and apply to EVERY system.
The system and game updates depend on the speed of "your" internet, this would be the same for the PS3, Xbox One, 360, etc.... If your not happy with your internet speed, upgrade it, its not a thing to do with it being the PS4. I have the Xbox One too and its gets similar updates.
If you do not like Elder Scrolls Online for the reasons you gave, it is the same for EVERY platform so you would not like it on the PS4, Xbox One or even PS3 then. Not a thing to do with it being on the PS4.
Game bugs and how long developers take to fix also have nothing to do with the PS4, it is the same for every system and generation of consoles.
Also almost every PS4 game, except brand new releases can be found places like Amazon for almost 50% off. Right now ESO is $40 new $30 used, Shadows of Mordor is $30 new $15 used. Diablo 3 was $20 one place last week. Trick is to not preorder, wait a couple weeks after release and you will find most games a lot less or used.
There is also more than enough free content to try on PSN. PSN offers 10 Free to play games and has 12 free Demo's, that is 22 games you can play and/or try for free.
It sounds more to me like this guy has some kind of strange agenda as the majority of what he is saying have nothing to do with the PS4 and applies to every consol.