I use both, as well as the Corel graphics suite, which also has a photo editing program not terribly different from Photoshop. Each program has different things it does well, better than the others. PSP's browser function is one I use constantly. Photoshop can't beat it. Photoshop has several functions PSP doesn't, but unless you're planning on doing heavy  and sophisticated graphics work. you don't need them. PSP will also use all Photoshop filters, so there's no loss there. PSP does seem, to me, to be harder to learn that Photoshop. The GUI isn't as organized. But then, I've been using Photoshop since V3, so I'm well used to it. My perception could be off.

IF you want to do professional graphics, there are industry standards. Photoshop is one of those, along with Illustrator, and to a certain extent, Corel's graphics suite. But failing that, just say you won't lose anything using PSP.

Talent is God's gift to you. Using it is your gift to God.