This is ridiculous - Switch is pretty much in the same place Vita was when it launched, relative to its peers from a hardware perspective (Vita was basically a downclocked iPad 3, Switch compares favourably to a downclocked iPad Pro 12").
Now, people are going to point out the screen, but 720p makes perfect sense for the sorts of games Switch is going to play anyway. A 1080p screen like the iPhone 7 Plus would be overkill right now and a 1440p screen pointless given the distance you'll hold the system from your face, and the diminishing returns Vs drain on battery life. 1440p makes more sense if you're trying to do 1080p on an OLED screen as the PenTile subpixel matrix on OLED means the effective resolution of the display often lands in the ballpark of 2/3-3/4 of the stated resolution.