the psp is too popular
More like it's too disproportionate between regions. If it were reasonably popular for software sales globally then it wouldn't be a big deal beyond wanting the games on a system with more graphical power or whatever. Here though, it's shifted over the years from "I want these on another platform to look nicer" to "I want these on a platform that'll have games localized here!" It really is a shame because almost every PSP announcement comes off more as taunting us with what we can never have, and while I don't doubt a good chunk of games aren't THAT big of a deal it's still frustrating.
The thing is its 7 years old, its basically on its last legs everywhere. Its very common for games not to get localized at the end of a gen