The PS2 was backwards compatible with the PS1, so virtually all PS1 games from their huge library continued to be playable on PS2. And PS1 games were still ship

The PS2 was backwards compatible with the PS1, so virtually all PS1 games from their huge library continued to be playable on PS2. And PS1 games were still shipping in 2000, 2001, and 2002. Meanwhile, PS2 may have had a poor launch lineup but by 2001 it was rapidly improved with Gran Turismo 3, Grand Theft Auto 3 (by itself a killer app), Final Fantasy X, Metal Gear Solid 2, Jak and Daxter, every sports franchise you could want, other smaller hits like Devil May Cry, Max Payne, etc. Meanwhile the Dreamcast was discontinued by March of 2001, just 5 months after PS2's North American debut.