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I can't really see Sony releasing something like the Switch right now. They have a fanbase that expects cutting edge technology in their consoles, so the PS5 is going to have to be a traditional box. I suppose it's possible to try another handheld that also docks to a television, but then they would sort of be competing with their own home console. Besides, it would be too late to catch up to Switch sales anyway.
I think Sony is better off just letting Nintendo have this niche right now and focusing on what their own fans want. It's not like the Switch is hurting them.