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Nintendo has two BIG obstacles to overcome if they want Switch to really go that far: competition and system sellers.

We have no idea how people are going to react and transition to next gen.
Last time, transition was faster than some believed. But now, it's still too soon to know how this will go.
Maybe these new consoles will be even more attractive than we think, after they are 100% revealed.

Nintendo has sold more than 53 million based on a few important factors: portability and quality/quantity of 1st party games.
Whilst portability won't go away, the quantity of 1st party system sellers, might.
Most, if not all, Nintendo system sellers are already out. And even if sequels are released, it is not common for sequels to have the same impact or even sell as much as the original titles.
So, the question is: on a system that heavily relies on Nintendo's own games, can Nintendo bring new titles that can carry the console onward - specially when new consoles are arriving? Consoles like Gamecube, Wii and Wii U show that this is not the case.