Its a press conference, there are no consumer expectations. You live in a hardcore gamer bubble who watches internet streams of a company's foreign pressers. You were clearly not the target audience for this.
The target audience was the Japanese media who will now cover the Vita price drop, new system colors, PSO2 and Soul Sacrifice bundles, and free week of PS+.
That was the entire purpose here. Hell, it's why they're doing the price drop now, the new system colors now, etc.. They're capitalizing on PSO2 and Soul Sacrifice coming out close together and using that for a new push.
The Vita's library overall is solid, it's 2013 release list is as well. That hasn't been selling the system in Japan. They now have two high pedigree games with the potential to move units in Japan and you're wondering why they didn't show anything new at an event specifically designed to roll out system bundles for those two games and an across the board price cut.