The Vita is between a rock and a hard place right now. I don't think even a price cut could rectify this because it's just missing interesting games. The games that are somewhat worth mentioning are Uncharted, Gravity Rush and maybe Unit 13. All the other games are either ports, tech demos, iOS quality or just plain bad.
The future looks grim. The only game I am interested in is Soul Sacrifice and thats coming out early 2013 IN JAPAN, so god knows when in europe.
Sony is just way over their head with what they can do. They still heavily support the PS3 (TLOU, LG, GoW, PSASBR etc.), they sure as hell have started developement on some PS4 games and now they realize that the PSV will not be successful on third parties alone. But they don't have the capacities to up the ante on vita support so they try to mask the game shortage with a flood on cool little gimmicky, but ultimately iOS quality PSN games (JSR, Sound Shapes, Retro City Rampage, Strangers Wrath and so forth). Problem is, neither the size nor the price of the memory cards supports this digital flood. I have a 8GB card and its full already and I don't really want to spent time managing my games.
So if they want to buy time short term with digital games they need to drop the memory prices by A LOT. I am talking about getting 4 and 8GB OFF THE MARKET and going with 16GB 15, 32GB 30 and a new 64GB card for 50. Sony is throwing gigabytes at vita owners so they need to make sure we can catch them.
For the future, I hope for Sony they already have God of War, Ratchet & Clank, Jak & Daxter, GT, Killzone and a new Uncharted in the pipeline or this thing will go under if the next big things are coming like late 2013.
Right now the outlook for "great & exclusive" retail games is LBP, Sly, AllStars, CoD, AC3, Soul Sacrifice. 6 games, 2 of them being PS3 ports. That's just grim.