It was a fad bascally. Switch is not really like it at all because it's not driven much by motion games or the casual audience.
Switch if anything is probably more like a modern, portable N64. Only today cartridges are far more flexible of a format, you're not limited to 8MB = $60 and 12/16MB = $70-$80 a game. Today you can have 4GB-16GB for $50 and you have the option of digital storage too.
If the N64 could've had even 300MB-400MB cartridges for $50 and large internal storage on top of that ... it would've sold double what it did and outsold the NES.
But the basics are kinda the same ... N64 was very heavily driven by select big traditional Nintendo IP with a handful of developers supporting it (Midway, Acclaim, a bit of Konami). N64 was just choked off by not having enough games, Switch has more flexibility today thanks to much larger cart sizes, indie games, etc.







