I fully believe what he tells me. He has no reason to bend the truth, neither do I for that matter. The majority of 'entertainment' products these days are based on hype that gets old very quickly. Customers have latched onto this fact and are thinking twice about where to put their money. It's not like the hay days of the Nintendo NES, SNES and Sega Megadrive. Back then, video games were ground breaking.
For video games to go forward, the industry needs to look at originality. I believe the Vita tried that with the new control system, but it just doesn't cut the mustard. What the industry doesn not need is the same old tripe from the PS3 put onto the Vita. The rinse and repeat formulae only works for so long, especially in economic downturns.