Perhaps you could expand your thoughts to more than one sentence?
I think that PSP market is exactly what you would like to se of a redesigned PS2. PSP hardware already has got similar capabilities of what a PS2 can make at lower resolution and without technical architecture enhancement of the original home console structure. This help to have a rendering comparable to PS2 like result on a 4.3" screen. Sony sell this console as portable Playstastion and all his idea of portable gaming is inside this console. Another one could only take out the already difficult focus from the PSP.