They've learned the correct lesson: that there is a price threshold that mainstream consumers are unwilling to pay. The PS1/2 were successful because they took a financial hit to release what was considered high-tech at competitive prices. The PS3 was them assuming the consumer will pay $600 as long as there was perceived value for it. I see the Vita as a realization that they have no leverage for competitiveness if they are outside of reasonable pricing with Nintendo. Sony is fighting for market share with Nintendo at this point, not profits off of each unit.
I guess, but in that case they need an extreme success to be profitable, which I don't see happening against the 3DS (or even the DS). Nintendo's model is still far more profitable.
The problem with the 3DS, though, is that its software lineup is pretty weak so far. We'll see how that shapes out after tomorrow's Press Conference, but right now Sony's thrown out a great incentive for those many people who didn't purchase a 3DS to wait for what's possibly a much better product with a potentially better lineup of games.
There's also a psychology in the price. Nintendo flat out
told us they're overcharging on the 3DS, which makes me feel ripped off buying it at $250. Sony's likely taking a pretty substantial loss at $250, which makes me feel like I'm getting a great value at $250 for that technology and lineup of games.