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Oneeee-Chan!!! said:

I inferred this from the fast load times of the Zelda demo at Gamescom.

https://rectifygaming.com/zelda-botw-nintendo-switch-2/

In the demo the load time was instantaneous, but usually it is 30 seconds.
Switch cartridges load at 60-95 MB/s.

They showed the Matrix demo on a PC dev kit... the BOTW demo probably too.

If that's the case, the prepared demos were probably already completely in the RAM.