OK, so it'll use external cards for saving (hopefully), but have no hard drive support at all. Interesting, that. The 3DS was nowhere near 8GB, I don't think...
The rom for Xenoblade Chronicles 3D is 3.56GB
For resolution, the 3DSXL's top screen is 800x240.
On the vita, things aren't as rosy either.
Of this list, the biggest game on the Vita is the 3.95 GB of Killzone: Mercenary.
The Vita's screen resolution is 960x544.
The 3DS, while supporting SD cards, had game save capacity on the cartridge, while the Vita used hilariously expensive, proprietary memory cards.
The system will likely not get games as big as what we're seeing on even the current PS4 and Xbox One, to say nothing of what we'll eventually see with the Scorpio, and I'm honestly not sure they'll be much better graphically than the Wii U. Graphics are, of course, not everything, but this will likely send third parties backing away, reducing the appeal as a home system. Not only that, but companies making games on the 3DS and Vita for how cheap they are to produce might not want to jump on either, as there's going to be more pressure to make something more substantial. So what is the Switch, then? First party, indies and the occasional half-arsed party game?