Some aspects of your post surprise me, as a VR enthusiast and owner of the HTC Vive. Although the specs are quite different, as far as I know the PSVR still matches the graphics of the Vive in practice (though frequently sacrificing frame rate, which is crucial). New users of both will be surprised at the apparent low resolution when they first put it on. But as soon as you start moving you stop noticing that, because it just feels real.

The real difference between the Vive and PSVR aside from affordability, is the fidelity and range/scope of movement. The Move controllers are old tech and it shows. The Vive controllers are perfect 1:1 between reality and VR, the move controllers are anything but. The headset has better movement fidelity, but it's shortcomings are a larger issue. Failures for head tracking are much more likely to induce motion sickness. It rarely happens with the Vive as long as your stations are well mounted. It happens often enough to be an issue with PSVR. With the Vive you can walk around the whole room (you have to try it to know how cool it is) PSVR has a narrow range you need to stay within.

I will say that I wish my Vive attached to the head in the same way, that was a big innovation.