The PS Vita is the best handheld ever, it has the perfect size and fantastic screen. However story shows that Sony never understood handheld consoles : they have no clue about what a handheld is and what games should release on it. You don't buy a handheld console to play inferior versions of the same games of your home console. What's the point ? Might as well wait to get back home and have a quality experience.
Handhelds are meant for other types of games that Sony have pretty much no competence in, with a few exceptions like Locoroco or Patapon. Releasing those big-ass titles like Uncharted, Wipeout or Resistance and concluding "You don't buy our big games ? Fuck you and fuck our console" demonstrates what you can hope from Sony, and what will never come from them.
If they made a PS Vita 2, they would simply be bringing the same stuff again and it would fail miserably.
I only have confidence in Nintendo to create a decent handheld now (even though I find the overall 3DS era pretty awful), even though it will never reach the quality of the PS Vita OLED obviously, as their handhelds are aimed at a kids audience. I also hope that they will finally exit this era of bulky huge dual screen handhelds. Enough of this already.
If they could actually manage to turn the Switch into a console of the same size as the PS Vita with a good screen, I would already be pretty happy with this. Even tough the games are not really designed around the 720p screen anymore. Most of the time the assets are poorly downgraded to 720p, do not make use of the entire screen and end up very small.
Vita menu screen FF X :
Switch menu screen FF X :
Even tough the screen is bigger, in the end, the menu and text is smaller on Switch. No optimization at all for the handheld mode, because the console is also a home console at 1080p. This kind of stuff happens all the time with Switch. What a shitfest...