It is possible that ME2 may not sell a bucket load on the PS3 when its released, but i think they already know this, as you get alot better sales/money when you release a product at the same time, because of all the hype. For Bioware, this is a way of developing the codebase to work on the PS3. Graphics, story, gameplay are all in place, so its easier and cheaper for them to do this work, sell ME2, get some money back from the shorter dev time and then they are ready for ME3 with a PS3 codebase they can use.
ME3 will be on both PS3 and Xbox I would suspect as that is where they will reap the benefits in sales, otherwise it is totally pointless making ME2 for PS3.