It is and it's how Nintendo has been doing business for the last 20 yrs. The Gamecube was basically an overclocked N64. The Nintendo Wii was just a faster version of the Gamecube. The Wii U was an overclocked Wii. The Switch is basically a rebranded version of the Nvidia Shield Tablet with the K1 CPU. Nintendo doesn't run it's business model like Microsoft or Sony. They rarely if ever lower the price of their consoles with the rare exception of the Nintendo 3DS because of lackluster sales, in part because they were charging too much vs what Sony was selling the PS3 Slim at the time.
That's how Nintendo rolls and i'm an unabashed Nintendo fanboy. But yeah they take the cake for putting profits over value to the consumer. The Switch as was mentioned in another comment runs pretty poor and a lot of their new games look the part because the Company refuses to release an updated console with better hardware specs. In fact Nintendo has said that the Switch is still a mid-cycle product for them.
So yeah, Apple is nowhere as bad as Nintendo.
There's really no point in which Nintendo was more technologically advanced than other consoles.
PERHAPS the NES; but not since then. Every generation, the competitions consoles have been more powerful with more advanced features. Whereas Nintendo's offering has usually been cheaper, more accessible, easier to use, and with a bunch of family-friendly casual first-party games.
Nintendo isn't wrong here. The largest videogame console by volume is the iPhone. While it may not be flashy or cool; the 'casual game' market is by far the biggest segment of the market. Nintendo capitalizes on that and always have.
The one true exception to this is the N64 which was more powerful than the PlayStation, but once again Nintendo chose convenience and accessibility over all else and chose to keep it cartridge based. (Plus a healthy dose of "We make the cartridges"). Meaning instead of a 650MB disc to put the games on and have CD quality audio, you had to cram it into a 4 to 64MB cartridge (with 32MB/64MB ones only coming at the end of its lifecycle and being expensive and rare). The GameCube was everything the N64 should've been except that it frustratingly didn't have a DVD player (which was a key selling point for the PS2; because most homes didn't yet have a DVD player and a PS2 wasn't much more expensive than an off-the-shelf DVD player. Similar to the PS3 which, at launch, was one of the cheapest Blu Ray players you could buy which made it a compelling deal. Albeit for a very short while before players dropped in price.)
But for ALL of the shortcomings for all of those consoles; they're usually remembered more fondly than anything else because the games were so good. I'm not sure I can think of any console generation; save maybe, MAYBE for the Wii U, where if I was forced to choose I wouldn't choose the Nintendo offering just because of the sheer quality of the games.