After tons of pushback from fans, Sony has reversed its initial decision and will now keep the PS3 and PS Vita storefronts open for an indefinite amount of time.

Vita means life, and the handheld's legacy will live on. PlayStation boss Jim Ryan today confirmed that the PS3 and PS Vita stores won't be taken offline as planned.
Instead, both online stores will remain open and operational for "the foreseeable future," allowing gamers to purchase games, DLC, and other content directly from each console-based interface.
"It's clear that we made the wrong decision here. So today I'm happy to say that we will be keeping the PlayStation Store operational for PS3 and PS Vita devices," Ryan said.
However, the PSP store will still be taken offline on July 2, 2021.
Ryan goes on to explain why Sony originally made the decision:
"When we initially came to the decision to end purchasing support for PS3 and PS Vita, it was born out of a number of factors, including commerce support challenges for older devices and the ability for us to focus more of our resources on newer devices where a majority of our gamers are playing on. We see now that many of you are incredibly passionate about being able to continue purchasing classic games on PS3 and PS Vita for the foreseeable future, so I'm glad we were able to find a solution to continue operations."