In hindsight, it might look that way. But I thought the PS1 had one of the best launch lineups ever.
The first three months (By December of 05), you had Warhawk, Destruction Derby, Wipeout, RR, Jumping Flash, Battle Arena Toshinden. ESPN Xtreme Games was a decent knockoff until Road Rash came out later the next year. Granted ... almost all of those games offered very little in the way of depth. JF you could finish in one night.
You compare that to the launches (first 3 months) of this generation and I think the PS1 blows it away.