As a long-time PlayStation user from PS1 to PS4 I have missed out on more than a few Xbox exclusive games that were never released on other consoles. Xbox One now has backwards compatibility with many games from Xbox 360 and now some from the original Xbox as well. They also look better and have better performance than they did on the original console, because of the way the backwards compatibility works.
If you have the disc version already you can just insert it and it will download the Xbox One compatible version for you, although you'll still need the disc inserted to play it if you do it that way. Otherwise it'll just give you a generic error message. Not all games are compatible yet so it's important to check if each game is before you buy it.
Unlike previous Xbox One models the S has an internal power supply so you won't have an external "power brick" that you'll need to find space for. It can also play 4K Ultra HD Blu-ray discs, if you don't mind spending somewhere between £15 to £30 per film. I took one star off because it's only really worth it if you've never had an original Xbox and Xbox 360, and missed out on a lot of older Xbox exclusive games. The Xbox One has nothing going for it when it comes to newer games. Multiplatform games look better and run better on the PS4, and there are almost no Xbox One exclusives that would be of interest to solo players.