I really like that you posted this, cause i didn't remember the name. LOL. Yeah, this Project Discovery was the prototype for the Nintendo Switch. Early in 2014 there were some rumours about AMD having designed a custom SoC for a big console vendor for mobile. We all assumed this would have been the 3DS successor. It seems Nintendo did want the Switch to come with AMD hardware initially(AMD has supplied the gpu for Gamecube, Wii, and Wii U), but Nvidia (who are so angry that they had no recent console victories) must have priced Tegra quite aggresively and offered tons of incentives (like the creation of an ecosystem of libraries for the console, instead of Nintendo having to write them themselves) to replace AMD.
To be honest, Tegra as a chip is a flop. It is strong on paper, but there is a reason not a lot of 3rd party manufacturers use it for Android devices. In the real world it runs too hot, it never reaches its full potential, and sometimes has inconsistent performance. And it is too expensive. Hence, Nvidia themselves are the main vendor for Tegra devices, and they are not exactly a huge success in the market.
AMD might have no history in the ARM space, but they have tiny x86 cores that could be used for tablets, bigger x86 cores for the home console, are more experienced with HBM RAM. And they have no history of screwing console partners, like Nvidia. Microsoft worked with Nvidia, not anymore... Sony, the same. Everyone gets burned by them. It is Nintendo's turn... You can bet the farm on the fact that AMD SoCs will be in Xbox Two/PS5... If Nintendo ever produces a Switch successor, i am willing to bet it won't have Nvidia inside. Let's wait and see.
Anyway, Nintendo is a greedy company, they don't care about their hardware, as long as it is cheap both to acquire and to develop for. So they picked Nvidia, but this has the downside that Nvidia has no x86 SoCs, so they can't make a home console. AMD could make the best hybrid console systems, two separate consoles, one with small x86 for the portable and one with big x86 for the home version. They could run the same games, the home console could have been competitive with the PS4Pro for the same price, and the portable could have smashed the Vita for a similar price and be its own segment. They could have one system to write games for and run them on 2 consoles with just different levels of detail. Only downside that AMD most probably wouldn't offer them libraries, Nintendo programmers would need to write them.
So we get this failure, which will be the laughing stock of the industry, exactly like the Wii U was. You think this hasn't been made before? PSP and PS Vita don't ring a bell? PS Vita is a similar handheld that came out a few years ago, has a tablet SoC and is a bit smaller than the Switch, and can output to the TV, with the minus that the controllers aren't detachable. And it was cheaper than what the Switch is going to cost, and had a vastly cheaper library of games. Switch is dead on the water, trust me. Don't preorder it, you will get burned.