The UE4 info shows Switch is slightly less powerful than XB1, and it also proves that the Eurogamer article is based on an old spec.
People mostly glossed over this bit in the Eurogamer article despite treating it like gospel otherwise. By their own admission:
There are some anomalies and inconsistencies there that raise alarm bells though. Tegra X1 is a fully-featured HDMI 2.0 capable processor, so why is video output hobbled to HDMI 1.4 specs? What's the point of a 4K, 30Hz output? The X1 also has 16 ROPs, so why is pixel fill-rate mysteriously running at only 90 per cent capacity - the 14.4 pixels/cycle should be 16 were this a standard Tegra X1. Nvidia's chip also has four ARM Cortex A53s in combination with the more powerful A57s - so why aren't they on the spec too? (In fairness, the A53s didn't actually see much utilisation based on Tegra X1 benchmarks). Other areas of the spec have since been corroborated by Eurogamer: specifically, the 6.2-inch IPS LCD panel with a 720p resolution and multi-touch support, but there is the sense that this is an old spec, that there's a crucial part of the puzzle still missing.
http://www.eurogamer.net/articles/digitalfoundry-2016-nintendo-switch-spec-analysis
Here's that missing puzzle piece: the Eurogamer article covers the dev kit which uses a stock Tegra X1. With 2 SMs and at an 11W TDP it pushes ~500GFlops, about half as powerful as an XB1. Respectable, but nowhere near the number we'd need to enjoy most of the same XB1 games in 1080p.
Other than early devkits, however, Switch won't be using a stock Tegra X1. Nvidia's blog verifies this:
Nintendo Switch is powered by the performance of the custom Tegra processor.
https://blogs.nvidia.com/blog/2016/10/20/nintendo-switch/
So what can we do with a custom Tegra based on X1? Well, we can set it at 22W TDP with active cooling, and double the number of SMs and CUDA cores. With 4 SMs, this custom chip would push out twice the performance of a stock X1, putting us at ~1TFlop of performance. Just shy of XB1's 1.3TFlops, and at a lower price. This lines up with the UE4 numbers released today that show the Switch targets 1080p while docked, 720p in portable mode.
UE4: 0 - 3 with 0 being lowest graphics settings and 3 being highest, XB1 does a ~2.5 at 60 FPS. Switch does a 2 at 60 FPS while docked. To achieve this, Switch would need ~80% of XB1's power, and with a stock Tegra X1 this isn't possible.
TLDR: Switch is ~80% as powerful as XB1 with a custom Tegra based on X1, with a lower price point, and ya'll freaked out over nothing.