almost all consoles/hardware are sold at a loss, they make profit in software sales and accessories.
It took Microsoft a few years at least before they started profiting from Xbox

OT: I dont have a PSVita nor do I plan on getting one...money is just too tight these days (for me) to be buying a couple-few hundred portable gaming systems.
If you can't possibly wait to get home and play your console or PC I guess this would be a good buy for you.
Portable gaming is always a big hit over in Asia and Japan specifically..but in the U.S. smartphones are taking over and with our economy, I dont see this being a big seller..

I had two PSP's before..my first got stolen and the second one bricked.
Also I heard the battery life is terrible and the battery cant even be removed to swap out so yeah, not a smart move..I might get a PSV when they sell the "slim" version and its $100 cheaper