Yes; you can pack more powerful hardware into the space that a Deck, or a Switch, or even your phone, takes up. But is the amount of fun you get from that device increased in reasonable proportion to its increased cost?
This is one area where the Steam Deck may have got it wrong. The Switch has games made specifically for its hardware, so to a certain extent, the specs don’t matter. The Steam Deck though has already been reported to struggle with some games, even with the lowered resolution.
For a console that’s only about 18 months old, that’s a bit disappointing. I obviously wouldn’t expect it to be able to play new AAA games forever, but I would have thought that it would have taken a bit longer before it started to struggle.