Sony appears to becoming the Sega of the handheld games industry, in that there just isn't much room for them, between Nintendo gobbling up most of the larger, more complex games and the tablets/smartphones going for the mass market with their micro games. You've also now got a lot of third party games on the 3DS that cover much of what would normally be on a Sony platform, like Resident Evil, Metar Gear Solid, Kingdom Hearts, Monster Hunter, etc..
I think sony's main problem, as I've said before, is they're cinematic types of games simply work better for the home console experience, and aren't as well suited for quick, on the go gaming on small screens. But with that said, I think they will get their act together, and Vita sales with eventually pick up, though I don't seem them touching Nitnendo handheld-like success, and perhaps not even PSP numbers. But it will perform respectably. Remember, it is always games that sells hardware, and the Vita will get more games in the future that we know nothing about. Could be another mega hit like Monster Hunter that will reinvigorate hardware for all we know.
While I was never too crazy about Sony games, I certainly prefer them to many of the simplistic micro games that litter smartphones and tablets these days, which are themselves littered with advertisments, so I hope they get it together.