Nintendo has finally pulled back the curtain on Switch 2, after a long and arduous build-up which has almost had our colleagues at Nintendo Life in straight-jackets.

The headline news here is that the console seems like a compelling iteration on its outstandingly successful predecessor, with comfortably enough horsepower to run PS4 era games.

But as we write this in the aftermath of the platform holder’s presentation, it doesn’t feel like the company’s done anywhere near enough to appeal to multiformat gamers.

While there are a couple of tentpole exclusives – like the new sandbox-style Mario Kart World and the blissfully creative Donkey Kong Bananza – the rest of its offering right now appears to be relying on multiformat ports.

Nintendo has an unrivalled stable of first-party developers, of course, so we’re expecting that narrative to change rather swiftly. But of the Switch 2’s announced launch titles thus far, more than half of them are ports of old PS5 and PS4 games.

All of these games will be new to the Switch audience, of course, but for anyone looking at this through the prism of PlayStation, it’s hard to get excited about experiences like Hitman: World of Assassination and Yakuza 0 when they’ve already hit bargain bin prices on the PS Store.

They’re great games, of course – but we’ve already played them to death.

It’s also hard to appreciate right now just how close the Switch 2 is going to be to the PS5, and whether it’ll be capable of running contemporary titles like, say, GTA 6.

Sony has mostly had its own way these past few years, as the Switch was generally incapable of running the PS5 and PS4’s biggest games. But if software is available day-and-date on the Switch 2 moving forward, that might change the narrative around PlayStation’s platform.

It’s worth pointing out that at $449.99 for the console, Nintendo’s newest machine is priced about the same as a PS5 Slim and Astro Bot bundle. The PS5 Digital Edition is actually cheaper at $399.99.

In addition, the PS5 includes 1TB of storage space, while the Switch 2 has just 256GB. And you’ll need a subscription to use features like party chat on Nintendo’s machine, which are available without PS Plus on Sony’s system.

In that sense, even though the PS5 is unprecedently pricey for a console that’s now five years old, it’s actually very competitive compared to the brand new Switch 2. Of course, they’re entirely different products: one is a stationary system while the other’s a hybrid which can be played portably.

The real kicker for Nintendo today, and the topic that’ll be discussed a lot, is the price of its tentpole title, Mario Kart World. At $79.99 in the United States and even more expensive physically in Europe, this sets a new precedent for game pricing, and it’s a move which could end up raising prices on the PS5 as well. Currently, major Sony exclusives retail for $69.99 at launch.

One other thing pertinent to PlayStation fans is the announcement of a Switch 2 exclusive from FromSoftware, The Duskbloods. Artistically, this looked a lot like Bloodborne, although further announcements have since mentioned it’s actually a multiplayer game.

Sony fans will perhaps feel a little salty at this reveal. Not only is the PlayStation maker a stakeholder in FromSoftware’s parent company Kadokawa, the platform holder’s also been reluctant to do anything with the Bloodborne property over the past decade.

Demon’s Souls ultimately evolved into the multiformat Dark Souls when PlayStation fumbled the legendary PS3 game, and now it feels like a similar situation is unfolding yet again – although we do need to know more about what The Duskbloods actually is until we can say for sure.

All that aside, it’s still hard to say what kind of impact the Switch 2 will have on the PS5. At the moment, it genuinely feels like an expensive way to play existing games.

But that will change, make no mistake. The hardware will sell and Nintendo already appears to have all of the major publishers on board.

Until we start seeing more first-party stuff and day-and-date multiformat releases, though, it all just feels a bit underwhelming. That’s our takeaway for the time being, at least.

What are your thoughts on the Switch 2? Do you think it’s going to steal market share from Sony, or is it going to occupy a secondary system slot like the original Switch? Will you be playing any of the many third-party ports on the new machine? Let us know in the comments section below.