Possibly, if they made a portable PS3 that came with a dock for play on TV I would buy it. But in fairness the main reason would be I already have quite a few PS3 games digitally owned on my PSN account.

But if it was a whole new console so none of the games I already own would work, and anything I want to play I would need to buy again - then no, I think it would go the way of the Vita.

Summary

If they did a handheld PS3 you use portable and on TV, and your back log of PS3 games worked with it (digital only ofc) I could see that doing well.

If it was a brand new portable console, I don't think it would fair any better than a Vita.

The only way it would work is if Sony managed to make a portable PS4, not a "PlayStation Switch".

I think Sony said that in sense that they need to keep eye on Switch like raising competition on market, for instance on Switch price point and similar. I doubt they will release something like Switch (at least in near future) because they have have PS4 thats selling great, also seperate platform couldnt be nearly sucufule like Switch that has hole Nintendo support. Also, you cant have more powerful and in same time cheaper price than Switch for sucha a devaice, not to mentione battey life.

Nintendo has always been the king of handhelds. I think it will definitely do better than the Vita but could hurt PS4/PS5 sales. If they shifted all their attention to a Switch rival sure but like many said I think the PS brand is synonymous with having the best TV experience especially in terms of power where as Nintendo don't need to go that route.

In a way both Nintendo and Sony are comfortable with each other's status as they both tap into markets that don't necessarily compete with each other so changing that now wouldn't be a good move and after the Vita it shows that Sony isn't a handheld company.

This thread makes me wonder which company will try the hybrid concept next. Considering the success of the Switch, someone else must've thought of trying that for themselves.

Yeah, but PS5 won't have a play on the go option because Sony is dumb.

Nintendo pulled Switch off, because they had multiple things going for them:

a) Nintendo is going all in with game production with Switch being the only system they have in the future (3DS is supported as outgoing system). This was possible because WiiU was a dud and 3DS is at end of life. If Sony does something like that, they had to wait until end-of-life for PS4 and they are risking all on it, while a normal PS5 would probably similarly successful.

b) Switch was a step-up in power, because WiiU was comparatively weak and it was possible with mobile specs to outdo this. I don't see any mobile system with acceptable price could outdo PS4 (or even more: Pro). So if Sony does that, the system would be weaker, which would take away from the perceived value. People would stay with the PS4, because it has an established library and is more powerful.

c) Switch is less powerful than Xbox One and PS4, but close enough that it doesn't matter in eyes of many gamers. Look at Skyrim and Doom for examples, that the games are possible and the graphical downgrades are acceptable tradeoffs for portability. This was only possible because of the mid-gen release. Earlier this wasn't possible for the price and some time later people would expect a step up in power expecting the next generation. But as PS5 and nextbox are still far away most people don't compare with their expectations for next gen. If Sony does a hybrid as replacement of PS4, then people would expect a generational step in power.

d) As WiiU was a dud and 3DS nearing end of life, the risk to compete with own machines was small. If Sony concentrated on a hybrid alone it would be a tremendous risk. If they magically would produce a hybrid that magically can play PS4-games at the same power it would make the PS4 obsolete. But that seems technically impossible. Mostly because a mobile console wouldn't be able to work with optical discs and probably with other chips. If they make a console that is similar in power but incompatible to PS4 games, the two devices would compete and eat into each others market. If they make it only portable, the markets would no longer overlap, but it loses the desirability the Switch has.

Dumbest thing they could do is make it a portable and gymp the hardware.  

They would lose half their audience if not more.

This misinterpretation is spreading quite well...

Tell that to Lawlight.