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So to me, if they mention a life cycle not similar to other ones, it can mean that they will try pushing around 8 years.
I don't expect a price cut until maybe end of this year or next year. I think we might see Zelda Botw 2 in March (if covid didn't affect it too much). A Switch pro will definitely be coming but yea not before next year as well. So if they release a pro or new model in year 5 i can expect it to do atleast 2-3 more years.

We still have many huge titles coming and we're in year 4. With all that, Switch just can't do under 100 millions and will likely be around 120 millions now.
I think they will wait to launch the next console (likely a Switch 2 of sorts) to perfect the new innovations. They don't have to rush cause the Switch is extremely healthy and they have basically no competition in their market AND they need to make the new one special enough to be more convincing than the 3DS was to the DS.