Java is part of the Blu-ray (high-definition video disc) specification. If you have ever had to program DVD-based games or even just reasonable DVD menus you will welcome Java on such devices 
I suspect that some simple games will be possible, like you see on some interactive satellite boxes, but I doubt very much that you would be able to use that VM for anything that looked like it belonged on a PlayStation. Unless of course someone tossed Sony a quarter and they bought a clue.
