Well, its overpriced, Sony can't market it for shit nor is it a focus of the company and the platform lacks an identity. Sony has failed to establish popular, portable only experiences that people want to buy.
For example, when you buy a Nintendo handheld, you KNOW a new Pokemon is coming. When you bought a Vita you know...nothing. This is why people balk at it. Sony failed to establish high quality, portable only experiences on PSP and that has carried over and hurt the Vita.
Vita is not overpriced, and it's easy to find very good offers.
Memory cards are overpriced, but there are offers and some models have one or more games bundled.
As i said before vita + 16gb + 1 year of ps+ is the best thing anyone can do, not even a single additional cent is necessary for playing for an entire year(this doesn't mean that one won't buy other games! Lol, if one is not against handhelds then the more one plays on vita the more he wants to play on it imo), it's way cheaper than a 3ds + similar amount of games.
Imo some of the biggest reasons of the vita poor sales are:
1)pure hate campaign, vita had one of the biggest and best launch, but even before that "vita has no gaemz" "vita is doomed" etc and sony did nothing(and still do nothing) to make people understand it was not true(look at this thread and how many people didn't know most of the games)
2)sony terrible ads and bad management, look at e3 2012 and 2013, with basically no show at the conference people can only think that vita has no games, is this how you intend to push a console? Scea doesn't care, they just waste a little money on cheap and little ports no one asked for(gow, dead nation and others, why not spinoff!?!?!??!) so they can say that they are supporting it.
3)i believe that my local retailers want to boycott vita, since the launch little or no exposure, very few game(most of them are still the ones of the launch), and one of them have the games half-hidden. Imo they don't like its dd-heavy nature, i would not be surprised if they are not the only ones.
The indie games look really good.
Because it's expensive, and proprietary memory cards suuuuuuuck.
The same.