I see some people very conveniently trying to downplay the next Switch because they're probably scared it'll be a threat to their favorite plastic device.
History's shown that Nintendo doesn't intentionally aim for weak graphics; they just wait until costs are reasonable to where they don't lose money upfront on the hardware, and provide what can be offered in the package to that time. Since they release off-cycle compared to other platforms, it'd usually give them the upper hand in specs if talking same device form factor. We saw this with the SNES, N64, and GameCube. We saw it again with the Wii U too, technically.
Two reasons it didn't happen with the Switch are because 1: It was Nintendo's first time rolling the home console & handheld lines into a single device type (hybrid) and, 2: they were in a tough spot coming off Wii U plus Nvidia's mobile-based tech wasn't great at the time (Tegra had largely failed).
Now they have hybrid system experience, and Nvidia's had several massive advances in GPU feature sets since 2016. I'm still not expecting Switch 2 to perform at PS5 or Series X levels even when docked; no one should. But I bet it'll perform a lot better than many of you here want to think it will, performance-wise. I can definitely see it getting near or even beating Series S level performance when docked. It'll just come down to the CPU, really.