Yeah it's pretty much all over the web that, thus far, the PS3 is a flop.
Sony has to pray that some nice exclusives draw in a ton of new buyers somewhere down the line. Personally, I definitely see that happening.
However, what could happen is the makers of the big exclusives get worried about the PS3's lackluster sales hurting their revenue and putting the games on the 360 too. If that happens, the PS3 is dead in the water.