Thats the thing, the switch is also over priced, the the switch has a leg up wich is the vast nintendo catalog that can only be accesed by a nintendo console. Another huge thing, its a freeking portable. Not even close in comparison.
I already mentoned in my other reply, but no. regardles of the full power consoles this will be obsolete as soon as xcloud come out. Because at least the series x will have higher reslolution and other visual effects that wont be possible on streaming. The series s will aim for a little above the xcloud offered on you phone.
Series S is for people who aren't interested in cloud gaming. The casuals, the kind of people who play games like Fortnite, CoD, FIFA, Madden, and NBA 2K primarily. Those people just want a cheap console that can play the latest games in their respective series.