Playstation is doing it so be nice, I say they're doing it to cover their ass. Sony sent out an email to Playstation users stating that they're going to offer identity theft protection to their Playstation users who may have been affected by the recent hackings of their Playstation Network
The free ITP comes from Debix who will offer their AllClear PLUS plan to both account holders to the Playstation Network as well as the streaming video and audio player Qriocity. AllClear PLUS is a premium service that can deliver suspicious alerts as well as insurance coverage in addition to, what they call, "hands-on-help" from expert fraud investigators. This service will be free for 12 months. If you'd like to take advantage of this, you need to have an active PSN account pre April 20th and give them your email here to sign up.

On one side, thanks for the free stuff. On the other side, make a system that people can't hack into! But something is better than nothing. I'll take free any day of the week.