@northern haste
Technology is so good now, they can put powerful computers into tiny Game & Watch sized phones now, I think the tech’ is good enough. I think Nintendo just wants to focus on Switch for now, (especially after having trouble meeting demand for the Mini consoles, and getting mocked by some for making them) and admitted they only made the NES & SNES Classics for the market gap transition between the WiiU & Switch.
In fact, a guy at Nintendo made the mini NES chipset board more then a decade before the NES Classic Edition came out, but Nintendo wasn’t interested in marketing it for a long time.
Nintendo sometimes makes bad decisions… (Like denying QGames permission to remake StarFox SNES for 3DS, or allowing Renegade Kid from remaking Wario Land VB, the only “great” Virtual Boy game for 3DS too.)