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Nintendo is not putting all their eggs in one basket, no matter how uberly awesome a theoretical hybrid can be.

Lets not forget where NX evolved from, which was the unified library solution that we were clued in by Nintendo's own statements.  And again going by their own words, the form factors may actually grow, and lastly Reggie stated NX is a PLATFORM ("always") not a singular device.

The NX tablet may launch first, with the oc'd X1 used in dev kits (guessing was licensed to simulate performance, vendor may not be NVidia in the end ie 3DS)..  But its easy to predict, Nintendo will now have the flexibility to have multiple HW solutions, to suit various gamers lifestyle/tastes thanks to the unified library.  Makes 0 sense to  unify library, only to have 1 NX hybrid device, think about that...

Nintendo will have a NX home console, guaranteed.  This is a multi billion $ company and they want to have as much presence in the market as possible, again putting their eggs in one basket is a pretty much a non starter.

-Tablet form factor

 -Phone/mini or trad. handheld

-Home console 

 & maybe more to follow

btw I do agree with the notion of a flooded console market, but must point out, that will not preclude Nintendo from serving their fanbase and potential customers' interest.  The unified library solution will give Nintendo the most flexibility in HW its ever had in their vg history.