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curl-6 said:

Did the DS stop selling when PS3 and 360 came out?

Did the 3DS stop selling when PS4/Xbone came out?

The Switch does not depend on AAA third party games or being graphically competitive drive sales, so PS5/Nextbox won't really affect it. The only thing that can derail the Switch now is if Nintendo themselves fail to maintain its momentum with price cuts, hardware revisions, and killer app software.

I wouldn't be so sure that PS5 and NextXobx won't affect sales.

From sales data we can see that Switch isn't really stealing costumers from it's competitors. So, the most logical conclusion seems to be that those who are buying a Switch are old PS4/XB1 users - who have been given enough time to enjoy their consoles and are open to something new.

Now, that something new is, so far, annuling the graphical and catalogue difference.
When XB2 and PS5 arrive, seeing as their fanbase remains loyal, what might just happen is that Switch's attrative concept is no longer news and most likely, won't be able to keep receiving ports.

What happens then?
My guess: It's potential is cut short because a) Switch won't have really entered the declined stage to make way for a new iteration; b) even if Switch Pro happens, it will split the userbase, making the console able to keep receiving ports, to small in (actual) userbase.

 

On topic:

It's great that Nintendo can get 3rd party games on Switch.
It's not so great when these ports aren't multiplats. And until that happens, XB1 and PS4 will always be the go to consoles for the major titles.
That might not do a lot of harm to Switch sales now - when everything is peachy -, but there's the risk that it will in the years to come.