That could be awkward for Sony in that their new cutting edge PS4 games would likely not run well (if at all) on it (we're already seeing games run much better on the PS4 pro than the standard PS4). It kind of requires that it be your strongest hardware at the time so that the AAA first party games are made with it in mind.
In that sense it seems to me the PS4 and PS4 portable would be competing for the same market, and largely be a waste of money.
Still, they'd probably have to have begun development a while ago as pulling something off like the Switch reportedly took years of trial and error to make the form factor work. If they were to just start right now I imagine it'd only be coming out when their next console was about to show up.
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