I really don't understand how anyone can still believe that Sony has some secret plan to save it.
They couldn't afford to cut the price before the holidays in the West, when it had the best chance of helping; they certainly can't shift first-party development away from consoles with the PS4 launch rapidly approaching (and even then, it's far from guaranteed that Sony's top studios are capable of making a game that could sell well in the current handheld market); and they don't have the necessary leverage over third parties to secure exclusives (and, as far as Western third parties are concerned, see the previous parentheses).
They have yet to respond to Vita's sales with any great urgency, because a response involves potential solutions and Sony simply doesn't have any.