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Hardly. Just like Nintendo wouldn't be competitive with a PS4 clone a Playstation Switch wouldn't work easily.

While Sony 1st party games are very important as a differentiation element, the main reason people buy PS systems is still 3rd party games and a PS Switch would face similar technical limitations as Nintendo hence as platofrm it would lose ground against Xbox and PC.
Also, Sony 1st party game are heavily oriented to high-end presentation a cinematic experiences. Those kind of experiences are better a fit in the living room than on an handheld.