Sony and Microsoft are in the business of making the most powerful hardware possible. By its nature a hybrid console cannot be that. Ergo they don't make hybrid consoles. Nintendo used to be in the business of making the most powerful hardware possible, but stopped doing that 15 years ago. The Steam Deck shows what the limits of hybrid tech are today, and it's closer to the PS4 than the PS5 in specs. Making a totally new console that can be used as a mobile device as well requires a ton of capital for R&D and the end product would by nature have a radically different architecture than the PS5 and XBSX which aren't concerned about power draw or battery life. It would mean competing with themselves in a way Nintendo doesn't do since they don't have a dedicated home console. It's a niche they are happy to cede to Nintendo since the Switch is different enough from their products that it doesn't cut into their sales.
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