It really does. I've seen a GTX 1660 Super can do native 4K with perfect 30 fps lock in Yuzu.
Meanwhile Switch does run at 900p but it's dynamic and drops to around 720p, and frame-rate drops to 20 as well in some areas.
Ultrahand makes fps drop to 20 in pretty much every area.
This pretty much confirms Switch is just a bit more powerful Wii U with 4 GB of RAM, considering the game looks barely any better than BoTW, a Wii U game.
I really hope Switch 2 is coming in Spring of 2024.