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Technically PS5 could be the last console by Sony and Switch could be last Nintendo console, until it launches we can't really infer anything.
From Phill Spencer speaches they still plan to have a successor for XSX.

duduspace11 "Well, since we are estimating costs, Pokemon Red/Blue did cost Nintendo about $50m to make back in 1996"

Mr Puggsly: "Hehe, I said good profit. You said big profit. Frankly, not losing money is what I meant by good. Don't get hung up on semantics"

Azzanation: "PS5 wouldn't sold out at launch without scalpers."