I never watch the conferences, I just look at the announcements afterwards, and while they're not nearly as good as last year's, they're okay. At least I finally got release dates for Nioh and such, though it's hard to believe that Hot Shots is going to take until next summer. It also looks like Sony is going to show off a whole lot more of their games during the week (most importantly Gravity Rush 2!) I think the real problem with this conference was last year's conference, which announced a number of decently big games that haven't yet released, like Kingdom Hearts 2.8, GR2 and 13 Sentinels. Development takes so long nowadays that most of the games from one annual conference are bound to show up at the next one. In that way, I think Sony should trim down their conference schedules, 4 is way too many, even 3 is stretching it. There just aren't enough big announcements to spread around that schedule (or it's just an off year for them, last year was killer).
EDIT: However meh the conference might have been, that Tofubeats sizzle reel is freaking awesome.