Oh Brother, back in it's day the PS1 was better than what you could find on high end computers back it the day with better sound and graphics. Sadly by 2001 came around the PS2 was already out, and what can I say it was a better console.
To be pacific the PS1 wasn't a knock off it actually came about with a disagreement with Nintendo. When Sony was contacted to produce a CD add-on to the SNES. The suddenly Nintendo decided Sony could make any profit over games it produced. A decision I bet they regreted.