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Yes.

That's the short answer.

This doesn't mean it's viable in 2023, or 2024... But the Series S will be supported for the rest of the decade and with diminishing returns, there will be many games that will continue to ship on Series S for as long it has a userbase actively using it.

Reason to doubt is not technical but more the fact that there doesn't appear to be a huge market for these high end gaming handhelds atm, but things could change. Our only real comparison is Steamdeck but it's not widely available or even marketed at the general public. Microsoft could see it as a way to make more grounds in developing Asian markets.