This is the sort of thing that makes me reluctant to be an early adopter of gaming platforms, now.
PCs aren’t too much better… but I know you could run Elden Ring on an Nvidia 970gtx. Just saying!
Yeah, I’ll admit jumping in right away on this was an exception for me, because of this and the issues with new consoles that often pop up, plus prices usually drop later. Still glad I got mine though, love it so much, haven’t been this excited about a new gadget I got since childhood! 
I might upgrade if they make a more powerful one, but with the state of the supply chain and all, chip shortage, all the orders they’re committed to already, I can’t imagine they’d have a new model ready to ship in less than a year.
I’m still waiting on my Steam Deck. It’s due 2nd quarter, so before end of June. But I might cancel it at this rate, especially if there’s a new one in development.