Retailers are also buying "used" PS3s at much lower prices than previously, paying well under the original sticker price. Just look at how the Don Quijote in Akihabara is slicing 20 percent off the 20GB PLAYSTATION 3.
While Sony is claiming they made their goal of 2 million shipments, even in my local area I have noticed stores stocked with PS3s that aren't selling. The retailers may be buying them, but how many are actually making it into peoples living rooms? Considering the console itself looks quite nice and has everything there to offer something great, the underlying problem is most likely the high price. Would a 20% cut across the board now affect Sony so much that extra sales couldn't help it?