NX will be more relevant than the PS4 Neo.

[binary solo]

The OP's conjecture is pretty much irrelevant. What is relevant is how NX will be compared to PS4 as a whole.

And if NX releases at a price similar to PS4 then it's raw power will be more or less the same. Nintendo can't magically release gaming hardware that is similar in price but substantially more powerful. It's possible that in raw power NX and PS4 neo will be roughly the same (and the same price).

What's meant by outdated engineering? Are we expecting NX to run on something other than standard chipsets and contemporary architecture? The only possibly outdated engineering would be the presence of a Blu-ray drive. NX could go DL only + streaming and not have the capacity to use any form of physical media. But that alienates a still large segment of the gamer community.

It's both a handheld and a home console? Mashing those two modes together isn't new engineering. It's good for one product to appeal to two market segments, especially since Nintendo is still the only game in town when it comes to handheld consoles. As long as the handheld market feels like its getting what it wants from NX then you can pretty much put a line under 40 million in sales and call that the minimum. But telling the handheld market they have to pay home console price for their handheld fix might be problematic. Nintendo charged a home console price for 3DS, and that caused them problems.