I've certainly seen worse forgeries. Here is one that sold recently at RR Auction that I believe to be authentic. In yours, the "Prince" is almost too neat -- too perfect -- with every letter clearly written. I'd want to know more about when/where the seller says he obtained this.
Prince actually had very neat handwriting when he wanted to. Many of his authentic autographs are in fact very neat. I’ve seen many authentic examples of very neat Prince autographs. I actually have one which comes with a PSA/DNA LOA for what it’s worth.
However, I don’t think the OP is authentic either. The “Love God” isn’t quite right to me, nor is the P. The P is too elongated, but it’s a decent attempt. The OP looks very similar to one I almost bought myself. It may have been done by the same forger.
Bruce, do you remember how much the RR one sold for?