Graphically we know the Switch is a lot weaker but both memory size and cpu performance is roughly half that of the original ps4. Something like 19,000 mips vs 38,000 mips and much of the greater memory size and some of the cpu performance will be used to drive the greater graphic detail and higher resolution. Effectively the ps4 is only perhaps 60-70% more powerful with regard gameplay mechanics. So the Switch may be capable of running slightly cut down versions with a lot worse graphics. I don't think it will get those games anyway but the Switch still has an abundance of memory all things considered.
It certainly could get some new game releases. Much of the problem with the 360 and PS3 was fitting games into their small memory. That issue has been eliminated with Switch. It's got 8x their memory. It's the one area which is a huge upgrade.
