i agree with op. the initial target audience was just a wrong bet by Sony. now the first image is set, it's hard to change.

Bad strategy altogether. Sony went with a western centric approach at launch instead of carrying over the strength of the PSP, which are Japanese games.

Continuing to support the PSP in Japan, essentially made the Vita compete with it predecessor. They tried to do another PS2 with PS3 life cycle but it backfired. No incentives at all for 3rd party devs to make games exclusively on the Vita.

The lack of localization of those most wanted PSP/PSV Japanese games is also a big elephant in the room.

Now we don't even know what Sony is planning with the VTV, it seems like they used Japan as a beta test country but without any hint of it coming over to the English speaking market.

Too many areas needs fixing. I'm still hopeful Gio and his localization Studio give us something.

There's basically nothing interesting to play on PSV, Uncharted you could play on PS3, Killzone you could play on PS3, and Daxter, and Metal Gear HD you could play on PS2.

People say there is a great library of games on Vita, which I do notdoubt, but there are none that REALLY entices me to buy it, and I'm sure there are more than just me that thinks this way.

Now here's what I think the rpoblem with the Vita is: It's for the teenager-older PS gamers. First of all these guys don't play porttables. I'm sure most people can agree that you simply can't bring a handheld out in the public, Sony or Nintendo. So why own a handheld?

Well, for handheld exclusive games. This is what Nintendo does (Sony have done a bit of it, but not close to what Nintendo have) and what Sony should have done. After all, why own a handheld that plays the same games as your homeconsole, if the only place you're using it in is your home. I do this myself, but the only games I own on my 3DS are, surprise surprise, exclusive to it. I'msure many of you feel otherwise, but most people ain't forum dwellers, and they generally have a different perception of gaming.

Since when japanease game was system sellers in west except of some game like Final Fantasy,MGS and Kindoms Herts the rest of game are not system sellers in west it's don't even sold well

No general appeal for the console.

Target audience. The dudes and bros who buy PSOne and PS360 to play Call of Duty and the like simply don't care about handhelds. Plus a lack of exclusives that appeal to a western audience. And stiff competition from the 3DS, mixed with the fact that handhelds are in a decline from the last generation. The 3DS is selling very well, but it will never top the DS.

Personally I want one for ys and tearaway

Because it has a very narrow appeal. It has very few system selling franchises, the ones it does have are also on console, and very few people are interested in the "console experience on the go". I guess it also lacks appeal to children

Sure the PSP sold 80 million units could be a success. But given that the DS sold over 150 million, it puts that into perspective. 
Plus the PSP had the benefit of being an Mp3/video/hack system as well as gaming. Similiar to people buying PS3's early on for a blu ray player.