With even the most basic knowledge in Photoshop, you can simply create your own collage. Heck you can even pile it up in Picasa and you're done.
What Pictify differs in the collage department is that you work with one picture and add frames in the process.
It does look cool especially if you want to create a certain shape that you want and the collage would always be symmetrical with the rest. You don't need to worry much about the size of your frames since it is automaticaly made for you. All you need now is a bit of imagination on the layout of how you want the frames to look like.
Here's another example:
You can also manipulate the orientation of the frames according to your fancy. Sharing is also available so you can simply save it up for printing or via sns.
Verdict: The fact that this is free makes it a tiny bit appealing.