You, sir, are incorrect. The PS2's release schedule is actually more active then the PS3, and even the 360's (if you don't count all the releases for XboX Live Arcade), and it's not just "budget titles"
Coming out in the soon, on the "non budget" label, Yakuza 2, Madden 2009, Tiger Woods 2009, Mercenaries 2, NHL2k9, Speed Racer, Star Wars: Force Unleashed, Lego Batman, and Warriors Orochi 2.
The PS2 is doing just fine, and with a lot of big-budget titles, to boot. Developers are rightfully hesitant to move away from PS2, except into Wii country. I'm guessing the 360 will speed back up soon, however.