No.
I think Sony should and will just keep doing what they’re doing and stick to what’s working beautifully for them.
They are the #1 king of the dedicated home console market, and by a comfortable margin. They should continue down that path with PS5 and invest in more 1st party IPs to drive that point home and set themselves even further apart from Microsoft. Stick to their strengths.
As soon as they try to go the hybrid route and beat Nintendo at their own game, they’re asking trouble.

It will be years before we see another hybrid. If the switch sells 140 million units then yes Sony will probably make a hybrid. If the Switch only sells 40 million Units then Sony will not feel pressure to make a hybrid.

yeah not yet, but we get close. 10nm is pretty much the standard today. 6-8nm next year is definitly possible

Here are some benchmark scores for the Chips:

 GFX (graphics) Trex 1080p rendering results in FPS

A11 Bionic: 150 FPS

A10X (iPad Pro): 220 FPS

Nvidia Shield TV (basically docked switch): 117 FPS

Google Pixel C (Tegra X1): 88 FPS

Tegra X2 had 180 but the results got removed. (= http://i.imgur.com/RzLAyeo.png )

Souce: https://gfxbench.com/result.jsp?benchmark=gfx40&test=547&text-filter=&order=median&ff-desktop=true&ff-lmobile=true&ff-smobile=true&os-Android_gl=true&os-iOS_gl=true&os-iOS_metal=true&os-Linux_gl=true&os-OS_X_gl=true&os-OS_X_metal=true&os-Windows_dx=true&os-Windows_gl=true&pu-dGPU=true&pu-iGPU=true&pu-GPU=true&arch-ARM=true&base=device

CPU (Geekbench 4)

A11 Bionic: 

Singlecore: 4200

Multicore: 10100

A10X: 

Singlecore: 3900

Multicore: 9300

Tegra X1 (Shield TV):

Singlecore: 1500

Multicore: 4000

Google Pixel C (Tegra  X1)

Singlecore: 1200

Multicore: 3700

So in terms of CPU Nvidia isnt really outstanding and Snapdragon was even better back in 2015. GPU performance is nice but Apples A10X Chip is already significantly better then the still unreleased Tegra X2. As soon as the new iPad Pro with A11X chip gets released the gap will be even bigger.

BTW the A10X chip uses a “PowerVR Series” Hex-Core 7XT GT7600 Plus GPU thats custimzed by apple. The A11Bionic is the first chip that really uses a 100% apple made GPU. 

Sony could theoretically Use a GPU from PowerVR similar to the one in the A10X and CPU from Snapdragon and be on par/better then Nvidia current Tegras Chips. But they wont do that anyway, like you said ;)

But (nice to know) the PS Vita actually had a GPU from PowerVR ^^

Apples custom GPU in the A11Bionic is really interesting as well though. 150 FPS with just 3 cores is insane. The next iPad will likely have a similar design with 6+ cores (currenty 10X has 12 cores) so we could expect something around 300 FPS which actually is very similar to the power of an Xbox One (CPU is already way stronger then the weak jaguar cores). So the next iPad might be stronger then the OG Xbox One overall which is pretty insane

A portable version of the PS4 would be too expensive to make/sell.

A move which would probably make it a lot more attractive to many people in North America.  Nintendo is very Japan-centric, however, so I'm not entirely convinced they think much about situations elsewhere.

It was a beast in it's day.  But when you can have a much more powerful handheld with a great games lineup which can double as a console I don't see there being much of a market for Vita at this point. It's down about 50% year over year and the video game industry is a momentum based industry.  Even if it had those game it would be a struggle at this point.  If they wanted to have some impact on the handheld market coming out with a hybrid that supports the same lineup as PS4 would be the only way to go IMO.

I hope PS5 has PSP and Vita BC.

I feel it is a technical problem for Sony. Switch probably is on the high end what is possible in the mass market. Switch already is quite pricey, Nintendo got away with it, because they marketed it as home console too. Also battery life is on the low end.

A portable Playstation would also have lesser benefit, as it only provides mobile action. If it also connects to the TV though, it would eat into the market of the PS4.

A mobile PS4 probably also means it plays PS4-games? This would be even more difficult, as the x86-architecture does not work very well mobile(too much heat to get away, too much power consumption).

Sony could go the hybrid route with the next system, but it would be a disappointment in the computing power for many playstation fans.

As I see it, going for a mobile is in every possible implementation a losing game for Sony.

I think that would be a popular approach in Japan as well.

Japan is very handheld centric so in theory a sub-$200 Vita sized handheld only sku could be very popular for the millions who dont care about the console/hybrid aspect the current model has.

I doubt it. I don't think they'd be able to release one for $400 until 2020 when likely PS5 will be coming out.