7 days JR Pass price is almost same as round trip fare between Tokyo and Osaka by Shinkansen. That means if you have one way trip from Tokyo to Osaka or reverse, JR Pass is not worthwhile using. However if you add some trips when you stay in Osaka and Tokyo, you may use JR pass 7 days.
JR Group has made an announcement to change the rule of Japan Rail Pass. Any Japanese citizen will not be able to purchase Japan Rail Pass after April 1, 2017. March 31, 2017 is the last day to purchase Japan Rail Pass for Japanese citizen. The exchange order can be exchanged until June 30, 2017.
After this announcement, JR Group have changed the regulation again. After June 1, 2017, JR Pass will be available for Japanese citizen who lives outside Japan for more than 10 years. The details will be available soon.
Japan Rail Pass (a.k.a. JR Pass) covers all JR lines throughout Japan. This is only rail pass that covers throughout Japan. If you travel even round trip to Osaka from Tokyo, price of 7 days pass almost equal to normal fare. I think this pass gives the greatest deal to the travellers who wants to travel in Japan.