Actually I only know one person that recently got the PlayStation TV. He was very disappointed in the games that were not compatible. There was one, he had, that did not allow online play, which he was looking forward to, it did have it on the vita. Thinking of the games that I have, Rayman Legends immediately comes to mind. There would be no way of playing that game on the PS TV. That one relies heavily at certain points on the touch screen. I only have 15 purchased games, tangible case & cart. Two RPGs, three fighters, 2 beat'em ups. I'm not sure how to classify Soul Sacrifice or Ragnarok Odyssey. Two action adventure and then there is Gravity Rush, I am thinking that there might be some touch stuff in that one. My one racer, Wipeout 2048, which is not on any list of compatibility. My "Jak & Daxter Collection" is also not compatible. So.... out of the 15 games, that I have, almost two thirds are compatible. There is a lot of downloadable games that are compatible, which are purchased online. The system comes with an 8g card, but a much larger card would probably be needed. that adds to the initial cost. My friend uses the same card that he has for the vita, 64g. There is plenty of content available to give a good variety of things to play. Your talking about PSP, PS1, some retro Neo Geo, Indi gaming other than the vita only. (recommend "gun slugs") The "Free to Play" which you need to purchase things later in the game irritate me, I delete.
Looking at lists of compatible games on the net, I notice, one RPG I have, that Y's is not on any lists. Another game I have is not on the list is Soul Sacrifice. Of those games that are, there seems to be the need to download the latest update to insure compatibility. There is the "promise," which comes up on the screen, of future firmware updates to give compatibility to those games that are presently not. I am sure that those games that take advantage of the vita's capabilities will be the ones that offer the challenge of converting to "TV play." Those games might be somewhat disappointing if part of the enjoyment of playing were those features.
It seems conflicting to throw out there a portable system with all those capabilities and then offer TV play for its games and take away those advantages. Not sure what Sony is thinking. Are they wanting a cheap appealing home gaming system? Testing the market? It would be great if they would have made the vita like the Wii U controller. It would compliment the PS TV well and maybe solve the gaming compatibility issue.