For my XBox, I've gotten some solid games, like Sleeping Dogs, Bioshock Infinite (saving me having to buy it somewhere to complete my collection), Tomb Raider, and some others I can't recall at the moment.
Given that I'm already spending the $60/year on the online service for my XBox, I think those are nice extras. You can debate if they're free or not, but eh, it's something I wasn't getting before.
PS3/4 deal is similar, and I believe has also had nice games.