I think the Switch form factor will remain, it just needs a chipset refresh. It clearly hit a sweet spot that would be silly to abandon, I would expect Nintendo to have learned that lesson with the Wii U.
Nintendo would be fools to abandon the Switch form factor. And with the Steam Deck and Asus Ally delivering AAA-tier gaming in a similar form factor, doubtless some executives at Nintendo are stroking their chins, pondering how to evolve the Switch concept to take back the lead -- with airtight DRM this time, of course.
I believe that it was going to get a chip refresh like a year and a half ago but they had to scrap it because of the chip shortage, so they just released the refreshed hardware as the OLED switch with the same chip.