Considering inflation, the $99 price tag of the PS2 in 2009 would be equivalent to $145 in today's dollars. This suggests that a Switch Lite for $150 isn't a bad deal.
Another point that isn't often mentioned is that Nintendo is now focusing on a single console, no longer needing to support both a handheld and a home console. People wanting to enter the Nintendo ecosystem no longer have to choose between two difficult options as they did before.
This means that predicting Switch sales trends will always be challenging, as nothing like this has happened with Nintendo before.