No, it did good considering especially the Vita's install base and the size of the project.
54k FW/<100k LTD for a Tales game is not good and should get Namco to cancel the other remakes if those are Vita projects.
If you're going to draw this analogy, didn't MGSO also launch in the thick of the holiday season?
The holiday season doesn't magically bump games to do high numbers just because. And PO had some nice legs (~360k LTD iirc) on a lower userbase.