It's possible... but there are risks in going that way. Fragmenting your fanbase is a tricky thing. We didn't see very many "New" 3DS games that were successful. Similarly, only a few Game Boy Color games outside of Pokemon were really big. And even Wii games with Motion Plus were hampered by hardware fragmentation.
Unless they've solved this problem, I don't know if that's a good idea. If they can effectively boost the switch through a dock, that may be a way to do it, but as I understand, that's not possible with the hardware.
The beauty of hardware revisions with the new APIs is that games would be compatible with all versions, with certain visual enhancements off on the weaker hardware, a bit like the Xbox One S and X versus the original Xbox One, or the Playstation 4 Pro versus the original. It is also similar to the continual, incremental versions of mobile phones, and apps growing with it. In that way, it would be the solution to fragmentation.