Though pointing out the success of PlayStation 3 launch titles such as Resistance and Motorstorm, Sony executive Phil Harrison told Game Informer magazine (via GI.biz) that "it's always dangerous to judge any system by its launch lineup," while adding, "you only have to go back to the games that launched PlayStation 1 and Playstation 2."
Excellent observation! Indeed, if we remember when 1UP compared launch lineup review scores, there is a curious (albeit not stringent) trend: the two consoles on the list with the worst-reviewed launch lineups belong to consoles (Wii and PlayStation One) who have shown great success, whereas the opposite has also proven true (GameCube and Dreamcast had well-received launch titles).
Given the trend, then, we say Sony should embrace the notion of a lackluster PS3 launch. They've got a good statistical probability of pulling out this generation (especially if calls for a price drop don't go unheeded).
Talking about console-exclusive titles, Harrison said that "as long as the games they get are great, [consumers] don't care if they are third-party or first-party," while noting that their first-party developers will "yield the best quality software and the highest quality experiences that are clearly going to be exclusive to the platform."
A smart stance to take, given the higher development costs this generation that are pushing publisher to go multiplatform with their releases. Of course, all the smart stances in the world aren't going to matter if Sony can't jumpstart PS3 sales. It'll be interesting to see what they show at this year's Min-E3.