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The problem with the Vita, and Sony hardware in general, that without 3rd party support, the product is not really that attractive. In the case of the PS3, it's much better and Sony were able to address that problem (even with the decline of the GT series). However, Sony haven't really produced a worthy handheld game that can push hardware, and unfortunately, it doesn't seem that will change.

The 3DS on the other hand was able to push itself out of its slump with big titles, and it still has its trump card yet to be released (Pokemon). It has loads of other options as well with titles like MH, Pokemon, DQ, Mario spinoffs, Zelda, and other first party IP.

I'm just gonna look at the PSP's biggest games:
GTA LS: 7.45 mil
MHF:U : 5.35 mil
MHF 3 : 4.81 mil
GTA: VCS : 4.75 mil
Daxter: 4.06 mil
Ratchet and Clank: 3.64 mil
Midnight Club: 3.57 mil
God of War: Chains of Olympus: 3.09 mil
Crisis Core : 3.06 mil
GT : 2.91 mil

Most of these games were more of software selling well from the large hardware base rather than the opposite (with the exception of MH. Even GTA was somewhat more of the former). And I say that because people bought the PSP initially not because of the compelling software, but because of the Sony brand and the promise of mature handheld games etc. What's noticeable is that the best selling games are mostly pre 2008 (except for MH, but Japan was a different story). The audience in the west really grew out of the PSP, and the brand was hurt from that. Now this would be ok if Sony was able to fix it by releasing its own first party software, but honestly franchises like Daxter and Ratchet have declined, and won't sell nearly as well as they did on the PSP (and I don't think anything else would sell well for them on a handheld except for God of War). The push the Vita needs has to come from somewhere, and right now there's nothing that shows that it will have it. It's looking more and more like it will keep caught in its landslide unfortunately.