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Has it picked up momentum? Sure.
Has it effected sales? Sure.
Has it caused shortages? Sure
Would there be the type of demand it has not, without a cut? Good question.
Has it helped Sony make their 13m quota? Probably.

It was a success, but how much of one no one will ever know.  My guess is that it helped (definitely did not hurt) push the PS3 in the direction it should be going, but did it cause the comback?  I would say no.  Other factors (games, services, accessibility) probably have more of a factor in the PS3's good sales today.