There is no “TV version”. The switch docks to a docking station to make it output to a TV. You just need a docking station and controllers to make a single Switch into a shared screen experience in the living room. Anyone’s Switch can use the dock.
Physical games are sharable, but only one device can use that game at a time, because they’re physical cartridges.
Personally, I’d go with a Steam Deck over a Switch, unless your family specifically is looking to play Switch games that are exclusive to it (which technically with emulation the Steam Deck can also play, but that’s not legal unless you own a switch and the game). The nice thing about Steam games is that Steam’s Families feature lets you share the entire game library digitally to 5 family members, so unless they want to play the same game at once, you only buy games once and they can all play them. There are also some games that let you own one copy and let multiple people play multiplayer at once on it, too.
Plus, games on Steam are cheaper than Switch games and the Steam Deck is only a bit more money upfront than a Switch is, especially on sale, which I expect it to be on sale for Black Friday coming up.
Finally, Steam games also can be played on a PC. Any PC. The Steam Deck is just an easy to use, skinned UI PC. As such, when the Steam Deck becomes obsolete, you don’t have a bunch of games that are now locked to an obsolete platform. There are PC games that are decades old that still play on PCs today (although sometimes a bit of fiddling is required for REALLY old ones).
Edit:
FYI the regular switch and OLED can dock. The switch lite cannot.
I don’t trust any corporation. However, Valve has treated customers with respect and doesn’t try to bend us over. For that, I’ll keep buying from them.
However, I fear for the day Gabe Newell is no longer running the show.
I mean you could say the Steam Deck is “just KDE on Arch”.
The difference is how they implement it and what it’s used for. This could be huge for “apps” on the Steam Deck, for example. Or it could be a quirky experiment or feature nobody uses. Time will tell.