As with any new hardware, there are various reports out there about screen freezes, bugs and other issues with PlayStation Vita.
Here's a more serious issue: a Vita that's stuck in what appears to be a debug mode.
There's no way to tell if this is legit or not (although it would be quite a lot of work for a hoax), but if you do see some low polygon dolphins swimming on your Vita OLED screen, you should probably contact Sony customer support (or put your system up on Ebay).
Source w/ video
http://andriasang.com/comzg6/vita_dolphin/
From the video, I think it looks to be legit and if that's the case, things have got worse. The chance of a hoax like this is slim and I doubt someone would hack that in a short time.