Is the PS3 in a race against time?

In all fairness, if you're racing against time, you can't possible expect to win. How can you beat time? It's already where you're trying to go, because when you get there, it's... whatever. Time is a silly concept. Over at Reuters,
a lengthy topic was posted regarding the future of the PlayStation 3. We'll outline the main points of argument they make and you can make your own arguments afterwards!
- To succeed, the PS3 needs to hold onto third-party titles. (We may add... timed exclusives would be best)
- The demand for HDTV's is skyrocketing -- that will hold a major advantage over, say, the Wii in the living room of the future.
- The PS3 launch almost mirrors the PS2 launch -- initial supply troubles, lack of impressive titles, complaints about the difficulty to program for... but look at how the PS2 turned out.
- Cut the PS3's price!
- Have a strong, stable series of games!
That about covers their main points. Feel free to
read the whole article more in-depth and drop a comment about your thoughts. Is this a race that the PS3 can win, or will time inevitably cause the decay of what is an otherwise beautiful console?