http://en.wikipedia.org/wiki/Cell_microprocessor
The Cell architecture is one of the most powerful processor designs out there. The supercomputer abilities of these processors in parallel was known right from the time in debuted.
Definitely looks like it, although the chip is so expensive to make that its difficult to make money, the game system is more expensive.
“Operating losses in Sony’s video game unit for the year ending March 2008 could potentially exceed Y100 billion (L422 million) - twice as much as the Y50 billion (L211 million) originally projected, a Sony spokeswoman told Reuters.”
http://www.theinquirer.net/gb/inquirer/news/2007/10/31/40gb-ps3-65nm-cell-processor