Sony is done with portables after the Vita so they don't really have any incentive to piss away money on first party games given the small install base.
Unlike Nintendo that has to put resources into AAA first party games for the Wii U that's sold about the same volume as the Vita since they want to put out more consoles and thus can't alienate their current console fan base. Sony doesn't care if Vita owners get disgruntled as they aren't putting out another portable and thus are pouring all effort into the PS4.
Personally I'm fine with it as I bought my Vita this spring knowing it would mostly be for the few exclusives out, indie stuff and maybe some niche Japanese titles here and there. I also don't really have that much interest in playing console like AAA games on a portable--I can play those on my consoles and like to play types of games (like indies) on my portables as I don't tend to get around to those on consoles. If I have the time and ability to game on a console I want to play some big AAA game with great graphics and sound. On a portable, I don't care about that and am much more likely to finish stuff like Guacamelee.
But I get that it sucks for people who bought Vita's long ago for higher prices and lots of promises from Sony for PS3 level AAA games that have largely vanished after the first year or two due to poor sales. That was kind of a bait and switch there. And I'd be annoyed if I'd pay more than the $120 I paid for my Vita (Cowboom). My only annoyance as I was excited for remote play, but lacking L2/R2 and L3/R3 kills it for most games I play as the touch screen just sucks as substitute for buttons.
