Well, it's long been the case that a $400 console has lower specs than a $1200+ gaming PC, even in the year the console is released. And that the performance gap gets even wider as the console gets towards the end of its lifecycle.

Part of the criticism here is that the $340 Switch is getting outperformed by emulation on the $399 Steam Deck.

I'm pretty sure it has always been the case that a PC emulator could outperform a several years old gaming handheld. At least if enough interest was there for someone to write the emulator.