I think he's right. I personally think that it's not just the hardware/price and developer support for the Vita, but the segment and target.
Kids have a high need for handhelds. It's probably the only portable computer they'll own, unlike the rest of us who have smartphones, laptops, and tablets. They also have the most free time outside of home to use it, and usually are free to do something during commutes and transportation.
With smartphones, a lot of the "casual" gamers of the handheld market have no need for a dedicated gaming device. If they just need to kill 5 minutes, they can do so happily with a free app. They can also occupy themselves with the internet, texting, movies, etc.
And with hardcore gamers, I just wonder how many of them really go outside as much, and whether they have a gaming laptop. Even if they don't, outside of Japan and a few European countries, if you mainly commute by car, you don't really have the opportunity to play with a handheld.
