That's the thing with Microsoft, they have all the money in the world to launch day-1 titles.... Sony doesn't. Sony doing that would hurt them.
Game Pass was always going to be better, simply due to Microsoft having all the money in the world to make things happen more quickly. I do think Sony should have made it a bit cheaper to sell the product better, though.
At the end of the day, Sony is giving you options. If you want to stay on the same tier as you are now, you can. If you want the extra tiers, you can. I personally don't care either way. I'll probably get the premium tier due to the streaming aspect and the extra games. There is always Game Pass there if you ever want to get an Xbox.