Nintendo put all of its eggs in one basket with the Switch. I doubt anyone thought it would be the juggernaut that it is, but Nintendo absolutely wasn't going to let it flop around like Magikarp. In previous generations, Nintendo was often spread thin supporting two-to-four consoles at any given time, and something always had to get the short end of the stick. Now Nintendo can focus on supporting and marketing one console, a console that plays to its strengths as a handheld while happening to have a TV out and external controller support.
To answer the question in the title, yes, the Switch was Nintendo swinging for the fences. Everyone has their own definition of failure and success, but the Switch was never going to be allowed to be allowed to be the former, all the way from the planning stages to post launch.
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