The Vita is still alive because developers like it, even though Sony doesn't. However, Sony has announced that it will no longer produce any physical cartridges after a certain point in time (I think it was June of next year, but I could be way off with that recollection), and it is phasing out support for various store options. I think Vita games are no longer offered as free incentives through PS+, either. There are still a lot of Vita games--including physical ones--coming, particularly from Limited Run Games. I don't plan to ever part with my Vita. I still have a large library of games for the hardware that I have yet to play.
"Too often we enjoy the comfort of opinion without the discomfort of thought." - John F. Kennedy on reality
"What if everything you see is more than what you see--the person next to you is a warrior and the space that appears empty is a secret door to another world? What if something appears that shouldn't? You either dismiss it, or you accept that there is much more to the world than you think. Perhaps it really is a doorway, and if you choose to go inside, you'll find many unexpected things." - Shigeru Miyamoto on secret doors to another world