I think it's on its way personally. I enjoyed the first 3 years of the PS3's life as much as the first 3 years of the PS2's. Meta games rated above 80-
PS3- 157
PS2- 320
Above 90-
PS3- 22
PS2- 63
Interestingly it's on par with the PS2 (keeping timeframes in mind) It's not unfeasible that the PS3 amasses as many "great" games as the PS2 or at least comes close.