What a time to be alive. Some of my friends collect toys, i collect computer games! Mind you games don't cost a lot if you know how to shop. Often games will also come in packs or bundles which can be a good way to start a collection!
I also tend to wait for discount sales. When games initially come out I evaluate the quality of the game and its 'entertainment value'. The entertainment value is defined by the cost to hours ratio that I could spend with the game. 1:1 is good ratio in my opinion. So if I spend $1 to acquire the game, then getting an hour of enjoyment as a result is a good purchase. Games almost always come down in price, it's just a matter of time and knowing where to shop.
I will rarely buy games at retail price at launch. I also rarely preorder games these days. With such a huge collection of games in the backlog there is no reason to preorder new games unless it is a MMORPG. MMORPGs are different. You have to play them at launch to get ahead of the curve.
In April 2017:
Then June 2017, I've passed the 1000+ milestone!
I've seen people with 4000+ in their games library so it's definitely within the realm of possibility!