Of course its a success.
Hype is just that - hype, and something to be ignored if you're sensible. Whether a videogame or a film huge hype expectations are rarely meet in terms of audience reaction.
LBP reviewed amazingly well for a new IP, sold well for its genre as a new IP (particularly considering the install base), has a very active community with massive reply value and a nice line in DLC (I'd love to know how much additional money the MGS and costume DLC has generated as I suspect LBP is a lot more profitable that it might appear due the DLC, even if, MGS pack aside, its overpriced).
It's picking up GOTY awards and is likely so sell nicely over time as well. It's also a game from a small team with what would appear to have been a fairly small cost to develop by HD game standards.
I'd say it was a success.
Try to be reasonable... its easier than you think...
