I think it could be interesting. It has a cartridge slot, which makes hacking the thing infinitely easier. The Nvidia processor should make running Linux on it easier. Maybe Retropie or Dingux could be ported over. There are rumors of a microsd card slot which would enable storing backups, media or other programs. There is also rumors of a type c port which could be used for otg or connecting to a computer to extract cartridge data.
I realize Nintendo could probably put some security system on it, however any security system can be broken. The PS3 was originally unhackable and now it is easy to hack.