The PS Vita, this video says, wasn't made by hardware folks, it was the result of what the people who would one day make games for this portable wanted.
That seems like the right way to do things. Sure, you're hardware folks need to take those suggestions and turn them into something that works and is affordable, but shouldn't software be driving that design bus?
The video also makes some really strong arguments for why you'd want to get a portable device that isn't... well, a phone. Its big screen is more immersive, its visual fidelity and, lets face it, those twin sticks are the holy grail of portable gaming.
Even if you don't want to be won over, or already have been, you should watch this video to see some of the graphics you'll find on the system. It's pretty incredible.