"A portable console following the same philosophy as the PS1 and 2 had enormous potential and could possibly even lead to burying Nintendo (remember this was pre-Wii)."
Although they didn't actually try the strategy of the first two with the PSP. They tried to sell a multimedia system and a new video format, with gaming being fumbled by assuming there was a "handheld gaming ghetto".
What happened with the DS is what the PS1 actually did, offer a new type of gaming at an affordable cost to developers and gamers, while the PS2 was making a system focused for gaming (had an experimental structure that help change the way games were rendered), with movies as a bonus.
A flashy-first game is awesome when it comes out. A great-first game is awesome forever.
Plus, just for the hell of it: Kelly Brook at the 2008 BAFTAs