I think it's a question of who the audience for the DS really was and what that audience will do this time around.
The PSV is pretty much like the PSP, the only difference being that it may (or may not) capture more of the one-portable-only gamers this time. It has an uphill battle, but I think it's market is more assured than the 3DS's as of now.
The 3DS may lose the unknown part of their audience that wanted a slick-looking alarm clock, MP3-player and non-game software unit. How many people is that? It'll probably still be the portable of choice for kids getting a present, but will some of those have to, or want to, make do with their smart phones?
Anyway, it'll all come down to software library as a whole. 3DS certainly has the edge in popular titles as of now.
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