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Blob said:
Possibly arrogance.
Both the Internet and Media were expecting the Vita to be huge, the Nintendo handheld killer. Sony probably just bought into the hype, figuring it was going to sell so well they could charge whatever for memory cards and people would have to buy them.

That and probably hoping that people would just buy the Vita and then later notice the memory card prices and be like "fuck, I have to buy it"

I'm guessing they expected people to be ignorant of the memory card prices until after they owned the system.