Sony seem to have realized that shutting down a system which their older hardware requires to be able to function might not have been the wisest decision. Today they changed their mind about killing off the parts of the PlayStation Network that PS3 and PS Vita depend on to function; Playstation Portable is still going. This also means the murmurs of the pending demise of the PS4 were simply rumour and unlikely to occur any time in the near future.
It is more than a little annoying when a service you use to buy new content for an older piece of hardware is taken down and you are no longer able to expand your library. However, when it is a service which your hardware requires to be able to run at all, things are a little different. If Sony had shut down the service, the next time your Playstation needed to phone home would be the last time you could ever use it in any way, a bit of a different situation than losing out on picking up a new game.
Thankfully, that is no longer a worry and you will be able to load up your old favourites, even if your CMOS battery dies.
Last month, Sony said that PlayStation Store access for the PS3, PS Vita, and PSP would end this summer. Today, Sony has partially reversed course, announcing on the PlayStation Blog that the PlayStation Store would remain open on the PS3 and PS Vita.