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The fact that we can have this conversation is crazy to me, coming off of last generation.
I do think its possible, even if it has a very small chance.
It would need more revisions, current models would need price cuts, and the most important thing: a constant stream of first party content. I know the pandemic has made this year tough for Nintendo, but I cannot see them hitting great numbers in the next following years with a lineup similar to 2020s.
I do think more experiences like Ring Fit are crucial to draw in a different crowd. I would love a Mii Sports game compilation and think it would do very well. Not Wii levels of success, but still very well. also stuff like Tomodachi. Even though Labo didn't take off like they had hoped, I still think some experimental projects like these are essential.
And of course bring those third party games coming. Even if they are toned down or slightly older ports, this is the best support we've seen in generations.

Switch has become my favourite console ever. I hope we see its success continue to grow over the rest of its life.