Just what if - Sony used the hardcore gamer group, as a test group to how such a phone would be accepted... I for myself love it and many do so too and with all the work we put in, they surely must have recognized that.
They saw that developers jumped on the wagon and optimized their games for the dpad (or at least made it available) 300+ games so far. If you bring a play2 out you can advertise with those + PS games maybe PSP games
They got all the Technologies to actually make a real good media/play phone with Bravia / Playstation / Walkman.
Tho I dont believe it will be with quad core or come out right now. It will probably be a Dual Core on 2ghz 1-2gig ram, some sony assigned graphics chip, 2 gb internal storage - so you have to buy the new special sony memory cards that will only fit in the phone.
Deliver it to Christmas and pay the review magazines properly this Time and cash in on the casual gamers.
(So basically the play was a succesfull testrun, sony now commits and makes resources available for a play2 )
// To be serious.
Also think it will be PS Suite