Either Switch 2, a Switch TV form factor, or both.

I also expect Nintendo is done with the outdated model of trashing their old console and then replacing it with something that isn’t compatible with the catalogue without some kind of VC repurchase or emulation mode. The hardware for Switch is going to be far easier to do that with, so it wouldn’t make sense for Nintendo not to take advantage of that. Plus third parties can keep up the torrent of Switch releases rather than cutting support because they worry about sales underperformance due to hardware obsolescence. There would also be the opportunity to up the performance settings on existing higher end software, which is significantly easier for devs to do than any previous Nintendo console; that way owners of games like Witcher 3 can enjoy the higher performance of the newer hardware similar to buying a new PC and playing on higher settings. These sorts of upgrades will improve publisher and consumer confidence because Switch won’t be a dead end console; rather, it will be an ongoing investment. To use that example again, you can buy a proper Witcher 3 for Switch 2 in 2021 which will have the appropriate Switch 2 settings and updates, and not risk a wait until 202X for a time when they might (or might not) release a Witcher 3 S2 edition.

Another reason why I expect Nintendo to do this is taking advantage of price tiers: they can cover the 100-150 (lite/TV), 200 (Switch 1), and ~350-450 (Switch 2) markets. That way they can get the person who just wants 4 Switch Lites for their kids, the guy who wants Switch TV for Zelda and a few others, the people who want the full deal but want the economy model that plays most games, and then those who are willing to shell out because they want the latest and greatest premium model with access to all software, features, and the highest settings. They’ve run this sort of formula successfully in the past with the GBA, DS, and 3DS, but with the Switch they can do it far more comfortably and effectively.

Model ...... not New console

And No, Nintendo will never release a next gen switch console next when the Switch is still at its prime and been on the market only for 3.5 years (Nintendo consoles usual life-span is 5-6 years)

Doubt we’ll see it in 2021 model, but definitely on Next Gen switch assuming it'll use a next gen Tegra chip, its gonna be a game changer for sure (similar to Apple Silicon)

I'm expecting it to be the rumored pro model. Operating under that assumption, I expect modest upgrades, maybe a 1080p screen, upgraded Tegra chipset? Larger battery (increased battery life). Increased RAM potentially? Heck, maybe the Switch pro model will completely abandon the portability aspect and be a dedicated home console that way they can put even better upgrades inside it. Not sure how popular of an idea that would be though but I personally would like it as I only use my switch in docked mode anyway.

I think the new model with be a custom chip. I don't think they can squeeze much more out of Mariko.  Not saying it will be some massive leap in power. Just might have some surprising features.

My only wish is that it continues to have a stranglehold on Japan, thus keeping others from gaining ground.

1. 4k through DLSS would be a cool and a great feature for Nintendo to be able to say "hey we have 4k just like the much more expansive brand new consoles". I wouldn't be able to use it but I think it'd be a very smart feature for Nintendo to include and it would probably be the main feature people focus on and a main reason to upgrade for a lot of people. It'd be the most powerful differentiator for marketing the upgraded model.

2. I expect modestly updated specs to allow the mentioned 4k but also just improving framerates and resolutions in general on those certain games that run a little low.

3. Bigger screen to fill in the black buffer in the current model, possibly made with better tech (so like brighter, higher contrast, clearer colors, ya know whatever comes along with more advanced screen tech). Also possibly an upgrade to like a 900p or 1080p for the screen as well.

4. Bigger harddrive, at least 128gb.

5. More stable kickstand.

6. Bluetooth support.

7. A bit longer battery life.

I can't imagine what else they would add. If they did all of the above it'd be a big upgrade and would definitely grab a lot of Switch owners for upgrades, as well as plenty of TV people who haven't picked one up yet but are enticed by the 4k.

They aren't going to have no-drift joycons because those things are also sold separately. If they were gonna fix the problem they would have already. It's not like they are gonna sell new-model-only joycons that don't have drift. If they bothered fixing the problem they'd have put out improved joycons a long time ago. Unfortunately we're all stuck with drift for the rest of Switch's life.

That is an idea. A Switch Home would definitely be a great idea at some point before the Switch's lifecycle is over in 3-4 years. It is certainly possible the upgraded model isn't even an upgraded hybrid but simply a Home version. That would make it easy to upgrade specs to run 4k with DLSS and fix framerate issues in any games that have them, put in a much bigger harddrive, all while not having to worry about battery capacity, all while keeping the system under $300. This would also allow them to keep the hybrid model at $300 since it offers different capabilities to a home version, so they could keep Lite and Hybrid at $200 and $300 while offering a premium home experience also at $300 (with likely a very healthy profit) for those that are pure TV gamers and want Switch looking incredible on their big TV.

It'd be nice to have a premium hybrid though, I would maybe even upgrade at some point, but I could totally see Nintendo keeping it simple and just offering hybrid, Lite, and Home as the complete Switch family, instead of offering the Lite, two hybrids and possibly a Home later on. Also with how well Switch is selling it doesn't make sense for them to have to drop the price of the original anytime soon just to make room for a premium hybrid model, and I don't think they'd want to price a new model above $300. By going straight to a Switch Home at $300 they could keep selling all Switch models without a price cut for a couple more years and offer clearly unique products from every model in the Switch family.

I'd like to have contant 60fps in every AAA Nintendo game (Animal Crossing, Pikmin, Zelda etc.). I don't care about resolution, 1080p is enough in TV mode for me. Analog shoulder buttons would be nice. Give the system more RAM. 4GB is laughable and causes many 3rd party games to run awkward (I look at you, Rocket League!). I would appreciate everything that cuts loading screens. Internal memory should be much faster than loading from Micro SD cards. Currently it's about the same.

The Wii U was basically a Wii model

And Nintendo always release new models during the lifecycle of their devices