What hacktek said is pretty right. I have 2 PS4s.
PS4#1 is the primary console. My account is primary account and all other accounts on there have access to everything including the plus account multiplayer benefit. Everything Except for downloaded themes.
PS4#2 I'm the only account able to use multiplayer on this console since it is not the primary console. Any secondary accounts can play any of the games, but the multiplayer benefit doesn't work. Also, any downloaded game will not work unless the console is connected to the internet.