Yeah, but they aren't going to have Nintendo games. I don't think anyone give a fuck as long as they get Nintendo's first party software. Switch if on the verge of being the best selling system of all time, and the hardware was 7 or 8 years behind when it came out.
Nintendo has pursued a philosophy called Lateral Thinking with Withered Technology since the 80s, where they use dated but well understood technology in a new way as opposed to trying to be on the cutting technologically. There were few points were you can argue they haven't followed this philosophy, most notably with the N64, but for the most part, Nintendo has always had under powered hardware.