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Since the title of this thread is "PS4 level hybrid" for 400$

I would say it will be possible for a tegra based device to achive that level of performance at that price in the year 2023.

That said, I don't expect Sony to make said device since it would need its own library of games made specifically for it.

And, I think Nintendo will wait until 2025 to launch such a successor to the Nintendo Switch at a much more profitable margin. Nintendo is in no rush and they will be doing pleanty of revisions to keep the hardware selling fast for a long, long, long time.