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Of course they can and will repair older models, like they have with all their past consoles.
That is where you are wrong. The best example I can think of is the 3DS where once the new 3DS models were revealed, Nintendo ended production of the original 3DS as well as services.
The same thing will happen here except that it may be sooner because like I said earlier, there is literally no difference between the two in terms of price and to supply the red one, of course they would have to discontinue the older one.