It Might Play Multiple Versions of the Same Game Depending on the Mode
The most recent insight into the console actually comes from Boogie2988, who uploaded a video of his Q&A at Retropalooza (which you can check out here). At the 35-minute mark in the video, Boogie quickly dives into conversations he had with two people who have used the device, one of which is an employee at Ubisoft. According to the conversations he had, switching between home and console mode could allow you to play different versions of the same game. One that takes advantage of all the power under the hood and provides a home-gaming experience, and one that is tailored to more of a handheld experience.
The example given was in relation to Assassin’s Creed (although this was seemingly just a random example, not a confirmation of an AC game). You could play on console, but then when you switched to handheld mode you would have a different Assassin’s Creed mobile game that you can complete activities in to further the experience. In a way it sounds like a more high-tech version of the Dreamcast’s VMU. It will definitely be interesting to see how it works out.