So I missed the actual announcement and official reveal of the PSP2. Or the NGP as Sony's calling it. Regardless, thought I'd offer my initial reaction and get laughed at. Maybe make a few think "hm..." as you do.
Anyway, my first thought is that the actual handheld should be called the PS3-nano. Launch titles for the bigger console were shown running on it with devs talking about how such was done in weeks. Its not the PSP2, its the PS3 slimmer/slimmest.
Another obvious thing that occurs to me, what with the tool set supposedly more friendly, is the benefit this likely means for the PS3 itself. That some devs - maybe the really cheap if not the really smart ones - will use the NGP framework for PS3 games. That some will either then offer them as separate NGP titles, or as digital copies on a PS3 disc installable onto the handheld. Make them standard for limited and special editions.
A third thought is that this Next Generation Portable, rather than the PSP2, is a re-imagining of PSN. That it actively puts it on three platforms - cell phones, the PSP2 and PS3 with monitoring access for the PC. Gains the Androids install base overnight while Sony lends it the strength of their gaming brand at the same time. Win-win.
So to sum up the obvious: wow. By general reaction Sony really hit one out of the park. Though of course the counter-reaction has already started, which will only get worse once the PSP2's price is announced along with battery life. Which, with the thing coming out this year, has to happen at the Tokyo Game Show. Where we'll also start to hear about actual PSP2 games.