This crossed my mind recently. Typically gaming companies release games with these kind of super glorifying titles as some sort of hook to grab gamers in. For the most part, depending on the game, these types of editions usually come with complete DLC (assuming there are any) as well as some bonus features that you won't otherwise obtain just by purchasing the original game. The big problem with these kinds of "Editions", as it were, is that they are extremely expensive. Depending on the game, you can easily be paying $20 to $40 more than you would otherwise, making it quite a costly investment and it really raises the question of whether the bonus content is really worth that much. How do you feel about these editions? Have you purchased a game that has a Legendary Edition or similar, and was it worth it?
I did that with Fire Emblem Fates for the Revelation path and it was for my birthday from a friend but it was $20 for them and overall it was worth it cause it not only was I able to play all the characters but I also was supposed to get the best ending as well, which it was by far my favorite ending of the two that I have which are Birthright and Revelation.
I feel like I've never gotten one of these except for maybe DMC4 Special Edition, but idk, generally these kind of games seem way overpriced to me. I suppose the game devs are semi-justified depending on the kind of add-ons, but generally a few extra additions that you can otherwise do without doesn't really justify $20+ price increases, imo.
If the games been released for a while and they release, say, a GotY edition in celebration of winning the reward then I'm all for it, especially if it includes the previous released DLC and another bonus. It's catching other players up and is similar to if a card game released a limited time pack for their anniversary or something. Legendary editions, or other editions before release I'm a bit more iffy on. I can see why they work, but when mixed with stuff like pre-order bonuses it upsets me as it becomes a blatant money grabbing scheme, which isn't what game developing should be about imo.
I think the most expensive ones that come to mind are the Collector's Edition type of games, but that's because they comes with things like figurines and other kinds of merch, so I guess I can understand why they'd run up to like...$100+
The only time I grab these is if it includes all of the DLC for a game that I knew would get DLC all along. Example: Elder Scrolls 4+ and Fallout 3+. Each of these games I either found out about after all DLC had been released (Oblivion and FO3), or was aware that there would eventually be a GOTY version with all the DLC included, probably at a massive discount (Skyrim, FONV, FO4, Borderlands 1, 2, 1.5). Either way, I only buy these editions when I plan to from before day 1. As for merch, I've actually never actually bought an edition that had any bundled with it, ever. And a special edition just for something aesthetic in-game, like skins or weapons? Forget that. I'll buy the regular version at half off, thank you very much.
Normally, when GotY or "bonus" editions come out, the sales will (most of the time) stop getting sales and such. This was how I got Overwatch, the GotY edition had 30% off while the original was full price, the GotY was cheaper.
I normally don't bother with these kinds of things. I think the only "special edition" that I've gotten of a game when it comes out was a version The Legend Of Zelda: Skyward Sword, which came with a golden Wii remote. If I'm getting a game that has a "Game of the Year Edition", or something along those lines, which includes all of the DLC, then I'll generally go with that because it's cheaper than getting all of the DLC separately. Also, sometimes they'll be the only versions still available for digital platforms like Steam, which makes them the only option.