Absolutely, you just have to play some of your backlog for a few months and the price drops loads. And look out for specials. I got Black Flag and The Last of Us for about R300 each on the PS XMas sale, not to mention the free games I get every month from PS+.
Unless you really want to get into the MP of a game from day 1, there's not much to gain getting a game at launch price.

