First off, while a Sony executive was the one talking about this, this is NOT just an issue facing Sony. It's not about Sony not supporting their console, or about some inability to get developers to support it. So will the haters PLEASE knock it off?
This is an issue with the ENTIRE INDUSTRY. It was talked about at the beginning of the Xbox 360/PS3 generation too. As the graphical complexity of the games increases, so do the costs involved with creating those graphics. Gamers are demanding higher and higher levels of quality, so the costs involved in developing those games increases as well! Take a look at the credits from your average NES or SNES game...then compare it to the credits on, say, Infamous: Second Son, or Assassin's Creed IV. Notice how many more names are on the newer game's credits? Yup, each one of them draws a paycheck for their work!
It's not unlike Hollywood movies. "Blockbusters" cost around $150 million or so (plus marketing), and you usually see a dozen or so per year...and lots more smaller movies all around them. It's NOT the death of the industry to see fewer games being produced, it just means that the games that DO come out will be fewer and further between...with smaller games filling in the gaps left behind.
Personally, I think that this is part of the industry maturing.