Even more to the point than number of software packages that now require PHP 5.3 or higher is the fact that the PHP organization, itself, no longer supports 5.2. As a matter of fact, it has been more than a year and a half since they declared they official end of life for version 5.2:
Regardless of what antiquated hosting services may (or may not) decide to do, the people who develop the software that customers use DO pay attention to such support issues and that means that more and more VERY common software packages are soon going to become completely unusable here.
PLEASE take heed of not only those who happen to wish to use your services, but also of those who do the work to produce the products that such users wish to install.
Thank you.