They certainly cut software support for it too soon.
After 2010 they dropped it like a rock, leaving it to coast on fumes for its last two years, and even handled the localization of games like Xenoblade, The Last Story, Pandora's Tower and Fatal Frame 2 very badly; all four should have seen timely worldwide releases.
A 2012 replacement wasn't too soon per se, but they should have at least supported it properly up until then.