It certainly feels like it. Ni No Kuni is only big one I see in near future.
In PS2 era I had to decide which JRPG Iwanted, now it is take what ever you can get.
On handhelds I have several JRPGs but always been a "sit down for 3-4 hours" minimum genre for me. Of course if Grandia 4 comes out on Vita I will buy that system in a heart beat.