There's a lot to criticize Nintendo for (like them being fucking draconian with copyright enforcement in regards to console emulators) but let's be real here for a moment; the only way Nintendo is ever going to see getting their asses handed to them is if they pull a Sega with their consoles (they were really close to being in that same position with the botched release of the WiiU) and if they pull an Ubisoft with their first-party video game IPs (Nintendo tends to play it safe with their first-party IPs so this won't happen anytime soon).
I don't think the Switch 2 is going to be a commercial failure where unlike the WiiU, the Switch 2 has more features that people were asking for with the original Switch and at least the Switch 2 will have more games that will come with it on launch to get people interested to buy the console compared to how things were with the WiiU.
Speaking of games, there's at least going to be a couple of notable first-party titles to keep people interested along with more third-party support on launch to give people a reason to buy the Switch 2. I know the new Mario Kart game is mindbogglingly expensive but this isn't entirely Nintendo's fault, the rest of the video game industry is getting greedy and they're now seeking to price hike their games; so as much as I hate to see this, we're probably going to see video games in general in the near future costing around 70 to 90 dollars due to inflation. Furthermore, unlike other video game developers, Nintendo tends to play it safe with the formula for their IPs and tend to stay consistent with usually a gimmick or an interesting twist to keep people buying their first-party games (Mario defeating the evil King Bowser, Donkey Kong defeating anyone threatening his homeland, Link defeating the evil Ganon in the Legend of Zelda games, etc) so I don't think Nintendo will drop the ball in this department anytime soon.
Plus Nintendo now has their own line of theme park attractions found exclusively in Universal Studios theme parks so Nintendo is on a roll here.
Shit is getting expensive for gaming these days but I don't see that stopping Nintendo anytime soon.