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I hear you OP, but you got a few things backwards.

For starters, the Switch isn't a handheld primairly, it's a Home System. So, if Sony wanted to go the Hybrid route, they'd have to scrap the PS4, which ain't gonna happen.

The entire Switch model uses the Home System as basis. Games cost $60, they're of the highest quality, which is the direct reflection of not having a second Home System for developers to co-develop for. To get Switch-like results, Sony has to abandon the PS4, otherwise there is no ammount of money and resources that will guarantee them the kind of games they would need to make a proper case.

Also, the Vita is merely a portable you can play on TV. The Gameboy was already like that and not that many people used it that way. The Switch is completely different, it's a Hybrid that uses the Home Console experience as basis. It is a Home Console first, portable second, in terms of approach.

Sony could do that, but they won't because they can't.