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I think there are two primary reasons:

1. Power limitations: The Switch is in essence a mobile device and it is fairly powerful for such a device, but it does not have the same power as its contemporary stationary counterparts (which I think should be obvious given that one device is a mobile tablet and the others are desktop PC-like) . Naturally, games that really push the PS4 and Xbox One are likely not going to run in a playable manner on the Switch.

2. Use of cartridges: Judging by a lot of insider comments on ResetEra. It seems the use of cartridges is a far larger obstacle than the power of the system. Apparently, the 8 GB cart packages cost the same BD packages from Sony/Nintendo. The 16 GB and 32 GB cost more (though we are seeing the 16 GB carts being used more now, so maybe the prices have gone down). This would mean that the publisher would have to either increase the price of the game on Switch or work with thinner margins. The cost issue with cartridges is not really new (just look at how much support it cost the N64), but on a portable device like Switch, it really is the only practical solution for physical distribution. If Nintendo wants better support then they have to either A) use the larger carts on some of their own high-volume first-party titles (like Smash) in order to bring down the cost B) subsidize the larger carts C) work with developers that have larger games on case by case basis for subsidization.