What's more embarassing, that vita game heaven was probably thought up and run by an intern, or that they lossed so much face from that failure of an event that now they're turning it into a series?

"Oh, oh, well, it's actually just the first of many! Yeah that's it, the first of many Vita Heaven events where you can expect lots more announcements of things already announced...annnndd, uh, this is all a learning process for us too, so don't be shocked it we suck for a year or two"

Perhaps none of that is accurate but that's how it feels.

The power of TelePORTation was strong in the last event hopefully next time nothing is wasted on games released a zillion times ..MGS HD

I did warn people not to get their hopes up.
It's what always happens with these kinds of things, someone says we have an announcement, the internet whips itself into a frenzy by making up their own announcements and when the actual announcement is made and doesn't meet their expectations, they get annoyed. Seriously folks...you should have learned by now.

What was so bad about it? Have I missed something?

A perfect xxample of the little impact the 1st event had

I think the fact that there were no true surprises is what did it in. Also, calling something "Game Heaven" sets the bar pretty high, following up on that by showing off games already announced without announcing multiple AAA titles made some people angry. It just made me hope they cut the price sooner. $200 Vita Please!!!

People expected a mini E3 and got a 4-5min long showreel showing off about 5 games that people already knew about or were just more rehashed upscaled ports.

I am embarassed for righting that

That's actually a good thing, they could use smaller events like these to announce minor stuff (DLC, ports, small games) along the year, leaving more space to big titles on big conferences. Of course, that will depend on how many times they plan to do this stuff per year.