The Matrix Awakens ran on the console presented by Nintendo with “graphics comparable to current generation consoles from Sony and Microsoft” , citing that medium. The demo included “advanced” ray tracing and used Nvidia’s artificial intelligence upscaling technology, the well-known DLSS .
So Nintendo didn't share specs. And they saw a handheld Unreal 5 demo that they thought looked as good as ps5/xbsx. But it was also running DLSS so it might have running at significantly lower resolutions.
But on a handheld screen that's harder to tell. And Nintendo are masters of making games running at low resolutions and levels of detail look like they are a lot better. So there's zero chance it's actually as capable as a PS5 but there is a decent chance they can run Nintendo games that would appear to be. So maybe TOTK at 4k@60 with higher resolution textures? Honestly that'd be plenty.