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Have one system to support instead of two has been a great help to Nintendo and probably plays a big part in that. Of course, there are the usual reasons as well, being COVID & ACNH. Obviously I'm not suggesting that these are the only reasons, but they certainly kickstarted the momentum that Switch still seems to be enjoying. Also, I just think people are fond of the idea of having a system you can play on the TV and then subsequently take wherever you want (not a big deal these days due to travel restrictions, but still).

Nintendo just really hit all the right notes from the beginning with this system and it's popularity doesn't come from a fad, like what happened with the Wii.