That means precisely NOTHING. The architecture of the Switch is very different to PS3 and 360, and has bottlenecks they did not. There are lots of ports that show how much Switch can struggle with ports from that gen. Hell, the Switch had problems with Breath of the Wild, which was initially developed for WiiU.
It's fairly analogous to the issues the Xbox Series S has, where it isn't just a scaled-down Series X, and the differences in architecture cause major hurdles like the inability to do split-screen for Baldur's Gate III. Think about the performance levels between PS5 and Series X for that matter. There is more to performance than simply the processor generation.
