I'm almost certain that's what is going to happen. Hence why I think people need to dial down their expectations considerably in terms of both the power this console will be packing, and in terms of how much 3rd party support it will actually get.
Why would any 3rd party have faith in a new Nintendo console when the Wii U sold so little? Nintendo releasing an Xbox One power level device in 2016 is going to go wholly unnoticed by most people, I can guarantee. Especially if we get PS4/XB1 price cuts and/or redesigns this year.
It's the handheld that is going to turn the most heads. The console is a formality, to appease a niche within a niche audience. Nothing more.