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Soundwave said:
Pyro as Bill said:
Switch owners will be playing games immediately while the PS4/XBO are downloading and/or installing.

Switch is not a replacement/alternative to a PS4/XB1 for anyone who is really serious about the types of games the PS4/XB1 are known for. 

Switch is a very nice portable game system that should perform nicely above last-gen machines like the PS3/360/Wii U, will primarily be driven by Nintendo games, the same 3rd parties on 3DS, and some Western support here and there, most of that being smaller scale indie games and not the big AAA titles. 

Which you have the option of playing on your TV at home if it strikes your fancy. 

I think that much is becoming fairly obvious. 

Pretty much, this, except for the "very nice portable game system". If the battery lasts less than 3 hours, it's more a "transportable" game system than portable.

(and I really, really hope than you can charge the battery without the dock, it's not confirmed yet...)