I think it's Fusion concept, makes no sense for it to be a wild and hazardous gamble on something they don't know and where they have no pedigree, they need something stable that makes at least a decent profit, jumping into VR or a Steam like environment with the paltry digital systems and sales figures they have would be a huge mistake imo. This would entail massive costs for R&D, on top of the huge losses they already suffered in the 8th gen, this is the second least likely thing for the NX to be (the least likely is the one right below).
There are those who think it's a new OS for existing devices, the problem with that is that it is quite simply impossible since it would entail installing a brand new OS on old consoles and program games for the new OS that would not work on units with the old one, especially the 3DS would need for their owners to physically deliver them to someone who could install the OS and features and even if they made new SKU's of Wii U and 3DS with the new OS as standard; that would make the older units obsolete and useless.
I honestly don't understand how anyone could ever think that this was an option.
NX is likely a successor to both 3DS and Wii U, an early release is less of a gamble than sticking with historically slow sales and low profits, besides angry gamers, Nintendo have investors to cater to and they're likely the ones who have made the push towards mobile as well.
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