Agree that this is one of the most promising releases since N64. Nintendo's potential is analagous to that of Walt Disney: strength in its franchises. The Mario, Zelda, and Pokémon franchises should be worth billions each. It's up to management to play to the strength of these franchises and release quality games. If this is pulled off successfully, it can be extremely lucrative. With prior console releases, the franchises didn't get the kinds of major games as done with N64 and now promised with Switch.
This seems to be the first major Zelda release since N64 and first major Mario release since Mario 64. Games that also derive value from the franchises like Mario kart, super smash, and Mario party can also stretch the franchise value. The company also seems to be using multiple platforms (i.e. Smartphone apps such as Pokémon and Super Mario Run) to get more value and further build out these franchises (Disney playbook).
Additionally, the switch seems to embrace the tablet revolution by offering a console that offers portability and big screen options in one package. PlayStation and Xbox cater to more hardcore gamers who are oriented to heavy graphics. Nintendo's potential reach is much broader.
Finally, unlike many prior releases, Nintendo won't be competing head on with Sony and Microsoft (as they don't have any major console upgrades coming soon), thus many of the customers who have PS and Xbox may find it in their budget to add a Switch (but most gamers would never buy a PS and an Xbox as their coverage of games and concepts has too much overlap).