No, to go from selling 150 million ps2's and having nearly complete market dominance to being the lowest selling home console this gen is a failure. If the ps3 started at a lower price and had some more compelling exclusives, it would've been huge. Alas, whats done is done.
My prediction threads:
Wii U will sell under 40m units (made on 14th September 2012)
PS Vita will sell under 20m units (made on 30th September 2012)
Wii U will sell under 7m in 2013 - I was right