While I haven't read every single comment to this thread, one thing that seems to be glossed over is the fact that when I put down $60 for a game like MK or Portal 2 (ok it's a little cheaper, but ignore that for now) I expect to be able to play using the PSN against other players. It has nothing to do with the fact that the PSN is free. It has everything to do with my expectations of the product when I purchase it. Maybe the value of the game is more like $50 or less if I can't play online or maybe I wouldn't buy the game if I couldn't play online.
Couple the above with the much talked about identity theft potential and Sony needs to give it's customers something to say "We screwed up, we really do appreciate your business and we are trying to make it better." The problem is, the value of that something is different for every user. Some people may never have their identity stolen as a result of this problem and some people never play online. On the other hand you've got plenty of people that will have their identity stolen and expect to always be playing online. Their best option might be to give people a choice. 3-6 months of PS+, or 3-6 months of Netflix credit, or something else entirely.