I see this as a continuation of Square-Enix's downfall of quality and integrity.
Not only are they returning to the unprofitable and disasterous MMO formula but have married it exclusively to a console of the most limited user base this generation.
I honestly think Sony and Final Fantasy enthusiasts are too eager to paint this as a winfall when its just the latest chapter in a series of diminishing significance in the industry and what could easily become a tragedy and embarassment to Square-Enix when the game has to be rushed to other platforms to recoup the massive development costs.
Even then, as oppossed to the diverse PS2, the PS3 is little more than an analoge to the Xbox brand of gaming. Outside of Japan I don't see JRPGs of any brand or make doing terribly well on the PS3 at least not what Square-Enix or Sony are hoping for.
So, why are people downplaying this announcement? Because Final Fantasy is no longer a name of respect in the industry. Square-Enix is no longer a developer whom everything they touch turns to gold. And gaming this generation has been too far mainstreamed towards the joe-everyman FPS gamer for a lapsed genre such as the JRPGs to achieve any great significance on any platform. No one other than Japan or JRPG enthusiasts really care about this and that in itself is significant as to why this is not being percieved as big news. Uncharted 2, God of War 3 and Gran Turismo 5 are all more significant to the PS3 than this, third party or not... The PS3 is a Western console now, enjoy.
Is that doom spinning? Is that Sony/Square bashing? Whatever you take it as, that sinking feeling in your gut should indicate that its most likely the truth; how well do you honestly think this game is going to sell? Seriously? Focus your hopes and ambitions on the game being phenomenonal rather than it selling well or being significant for the PS3. The PS3 is to appreciated by core gamers as more of an artisan console now and its sadly unlikely ever to reach mass appeal with such games.