This is a bit of a meme, but it isn't generally true. The Nintendo 64 and GameCube were pretty cutting edge in their day. At the time the Nintendo Switch released, the Tegra X1 was still about as cutting edge as mobile GPUs came (in early 2016).
What Nintendo is about - to a fault, some would argue - is cost cutting. Sometimes that means they use older stuff, but using older stuff isn't always the best cost cutting balance to strike. The article even notes this:
> To be fair, it’s known that Nintendo’s choices are not always based on ‘cutting-edginess’ but on cost and supply.