I know my reply might be out of left field, but I'd have to say that it was PS+ that killed the Vita. PS+ and its instant library pretty much ensured that there would be no need to go out and buy games. Because of this 3rd party devs would see next to nothing from sales, because their fanbase would just say 'Meh. I'll wait until its free on PS+.' Almost everyone who has read a vita article, or a vita review has seen this comment.
This means that 3rd party devs would see next to nothing in sales outside of japan. Then due to a lack of sales most 3rd party pubs or indie devs would end up with no choice but to put their game on ps+ because it was the only way they could get money at all. And the cycle would continue.
Because of this, fewer big games and even fewer first party games would appear on the Vita. Why would you make a big game for the Vita if all that is going to happen is their fans ignore it until its free? Sony declared that the AAA model doesn't work on Vita. Because as publishers they went through the same thing as the 3rd party publishers. In the end it dwindled away to a few japanese games and a bunch of indies.
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