I agree Sony experimented releasing a lot of new franchices, the most successful ones being Resistance: Fall of Man, Motorstorm and Uncharted Drake's Fortune (Two biggest anticipated games this year are Resistance 2 and LittleBigPlanet). I think their strategy is to lure more new gamers early on within the console's lifecycle and they may not have wanted the bulk of PS2 gamers to upgrade too early within the console's lifecycle considering the enormous hardware costs. They couldn't have afforded selling many more new consoles than they did early on.
Sequels to big name proven franchises are dripping in slowly though, Metal Gear Solid 4 (already released), Gran Turismo 5, Final Fantasy XIII (exclusive for Japan, where the series is most popular and crucial), Twisted Metal, WipeOut, Ape Escape, Tekken 6, Socom, Kingdom Hearts, God of War 3, etc they are all coming.
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