"Your PSN ID is bonded to your memory card and your memory card is bonded to your Vita." That's the official line from Sony America reps regarding the PlayStation Vita's claimed one console, one PSN account situation. SCEA associate brand marketing manager Crystal MacKenzie clarified to Wired's Game|Life blog that, yes, you can have multiple PSN accounts, each tied to a memory card. Should you choose to move any of those accounts from one card to another, however, things get a bit more laborious.
"If you wanted to change different PSN users but use the same memory card, you would need to go factory reset," MacKenzie said, which sounds to us like a memory card reformat would be required before swapping accounts from one card to another. As far as having multiple PSN accounts on one console, though, Vita users are apparently limited by their ability to purchase more memory cards. And if one memory card isn't enough for your PSN account, it can be spread across multiple cards.
To recap, you can employ multiple PSN accounts on a single Vita using multiple memory cards, but will have to reformat the memory card should you choose to migrate a PSN account from one to another. Still bizarre? Yes, for sure, but it sure beats only being able to use a single PSN account.