From article:
According to multiple people with knowledge of Nintendo’s next-gen console plans, the company is likely to release new hardware during the second half of 2024, to ensure that it has ample stock available on day one and to avoid the kind of shortages seen with PlayStation 5 and Xbox Series X|S.
Although specific details on the console are being kept closely guarded, those VGC spoke to indicated that the next-gen console would be able to be used in portable mode, similar to the Nintendo Switch.
Two sources VGC spoke to suggested that the console could launch with an LCD screen, instead of the more premium OLED, in order to bring down costs, especially considering the increased storage needed for higher fidelity games. The current Switch comes with just 32GB of internal memory, while many current-gen PlayStation and Xbox games are over 100GB.
The X1 was obsolete and underpowered when Nintendo chose it.
It was underpowered when the Switch released, yes, but I’d wager that it was a good choice for the application when Nintendo started designing the Switch. Couple that with the (not unreasonable IMO) expectation that there would be successors to the X1 that they could hypothetically put into the Switch and release a higher-perf revision with minimal changes, I can see why they chose it. Unfortunately, Nvidia dropped the X1 line and that (again, purely speculative) scenario never manifested.