No.
Well that's my answer, Vita might be selling slower then PSP.....a lot slower (under 4 million in its first year vs. 9.6 million for the PSP), but that doesn't mean this system will turn out to be a flop. I was taking a look at my PSP and PS3 games, and I noticed that on both these platforms, most "good" games didn't come out until 2-3 years after release.
PSP did have Twisted Metal, Killzone, Breath of Fire 3 and GTA in the first couple years, but nothing spectacular (BoF is spectacular, but a port). It wasn't until 2007/2008 that I think the PSP library began to become unigue with games like Crisis Core, Jeanne D'Arc, and Star Ocean: First Departure released.
PS3 followed the same pattern, Uncharted 1 released in 2007, Valkyria Chronicles and Disgaea 3 didn't release until 2008, Killzone 2 InFamous, etc.
After all PS3 started selling a lot slower then PS1 and PS2, but isn't it still an amazing console? While I would argue it's nowhere nearly as good as the PS1 and PS2 before it, PS3 is still probably the best console this gen.
So even if PSV fails to sell as well a PSP, it could still get a few great exclusives. I wouldn't worry about the system, but I'd still give it a couple years to aquire sore really amazing unique PSV titles (no PS3 downgrades, or non main series console spinoffs).
Already PSP has Disgaea 3, Persona 4, and Uncharted. More will come.
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