It's definitely the worst launch I've witnessed as a gamer. The only game that tickles my fun bone is Crimson Dragon.
How is it worse than the PS3? This was the US launch list:
Title Publisher
Call of Duty 3 Activision
Genji: Days of the Blade Sony Computer Entertainment
Madden NFL 07 EA Sports
Marvel: Ultimate Alliance Activision
Mobile Suit Gundam: Crossfire Namco Bandai
NBA 07 Sony Computer Entertainment
NBA 2K7 2K Sports
Need for Speed: Carbon Electronic Arts
NHL 2K7 2K Sports
Resistance: Fall of Man Sony Computer Entertainment
Ridge Racer 7 Namco Bandai
Tiger Woods PGA Tour 07 EA Sports
Tony Hawk's Project 8 Activision
Untold Legends: Dark Kingdom Sony Online Entertainment
Genji was total shit on par with the Knack reviews. Tony Hawk 8 ran at like 15fps. The Gundam game ran at half that framerate. The only good games were Resistance (an ok FPS) and RR7 (director's cut of RR6 from the year before repackaged). Even Hot Shots Golf 5 came months after launch.
Also this is one of the first times that the US launch of a system has come way before the JPN launch. So those Ridge Racers, Gundams and Genjis aren't there to help cushion the western software. If PS4 launched at the same time as Japan you'd also have Yakuza Isshin and Dynasty Warriors + whatever else gets announced for the JPN launch. They probably should've waited until their Japan software & Infamous & Driveclub was ready, but oh well. You can play some stuff now and then some in Feb.