I think NX will be everything. Multiple pieces of hardware, that run all the Nintendo games up or down at different settings. VC works between them. You library transfers back and forth between them too.
Multiple console and portable models over time.
"NX" is a platform, not any specific piece of hardware, like "iPhone" or "iPad" or "Mac" are and the underlying service behind it is like STEAM -- works on multiple hardware types. You can start how you want ... with the portable, and then buy one of the NX consoles later on, and all your library is now playable on the TV, no problemo (or vice versa).
For the really high end third party console games though you'll need the higher end home console, but that's a fair trade off I think. The Nintendo games, Virtual Console, and Japanese portable games can run on all NX hardware, they just have better graphics on the higher end console.
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