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There is simply no guarantee that Switch will follow a similar curve to the PS4.

The main thing is first party support. With the Switch and DS, they continued to perform really well until Nintendo's first party support began to dry up. Once that happened, they coasted for a little while on the strength of evergreen titles before dropping sharply.

Doesn't seem like Nintendo is going to slow down Switch support in the next couple of years, but with Nintendo's future lineup a giant ?, it's hard to make a solid prediction for the Switch. BOTW2 is the only huge title we know about (with Bayonetta 3, New Snap, and Prime 3 being relatively big franchises that have the potential to become bigger on Switch). If you have faith that Nintendo has a good lineup lying in wait, then 110m is a very safe bet, but if they don't, it may limp past 100m.