Sony lost it when they gave up the portable music market. Add to that their forays into devices that were locked to odd media formats, throw in their adventures in the worst business in the world (TVs) and you have a perfect storm for consumer abandonment and a company that beings to sink. It's not a matter of turning the ship around - it's a matter of keeping it afloat!
They need to get a WAY better content delivery system that creates a single consumer identity so that when you buy a TV show on PSN, you see games, music, movies and books. Then, that content needs to "magically" appear on your entire Sony library - PS3, SmartTV, Vita, eReader.... everywhere.
They are trying to sell niche products when they need to develop a niche relationship with each and every consumer. They need to make owning Sony a sign of status and hipness - not quirkiness and being behind the times.
The idea of a media hub would be good, if they had the software/marketplace to support it - better than the PSN. Also, they need someone to work on the idea of human-tech interface. The XML bar is great, but navigation in PSN is clunky. It also doesn't "respect" my own media and seems very piece-meal.
Finally, look at something like "NEAR" of the Vita.... it makes absolutely no sense... what the heck is going on? Nintendo is simple... hey, you met someone, swap a puzzle piece and play a game. "NEAR" is doing something, but I have no idea what.. it's completely messed-up.