After responding to allegations that the separately priced $59.99 PlayStation Eye was not packed into the PlayStation 4 to make the launch price cheaper, Sony had a few words to say on the subject.
Regarding the experience as a whole, Sony's Worldwide Studios President Shuhei Yoshida stated that the technology still isn't there yet: "We already have many years of research on vision tech. The natural user interface is interesting, and sometimes really robust...this will continue to evolve. As far as I'm concerned, personally my view is that it's still in the early days of development in terms of tech. It's not mature enough to take advantage of with all kinds of games. So that's a decision we made. For some experiences it's great, and it's even better with the PlayStation Camera and HD."
Essentially, they are saying the camera can be used as an ancillary device for some games, but it's not core to the experience, like Microsoft wants us to believe with their packed-in Kinect. Sounds good to me.