It's clearly more powerful than the WiiU. But it's not where Ps4 and XBO are. The WiiU was stronger than the Wii, but weaker than PS3 and 360. The Switch is stronger than the PS3 but weaker than the PS4/XBO. Nintendo seems to keep taking "mid" generation steps.
Which is fine by me, if the games are fun graphics are secondary in my book. Some of the greatest games out there aren't really that graphically intense.