I would say it's quite feasible to get PS2 games running faster than this on the Switch. A friend of mine got an early PCSX2 build running on the original Xbox at a little over 10FPS, using a special profile-optimised dynarec (for any developers: -fprofile-generate) and hardware acceleration just like on a PC. If - and this is a big "if" - Play! or a similar PS2 emulator gets GPU acceleration on Switch and, in the case of Play! or a less mature emulator, the program becomes faster/cleaner/more optimised, it would not be inconceivable to imagine some games reaching playable speeds on Switch.
As for walking proof of this -- while the PS3's PS2 software emulator is hardly perfect, it runs a lot of games very well, and while you can get into circular discussions about whether the PS3 or Switch is ultimately more "powerful" (the Switch is.. sort of, but that's a completely different discussion) you can't deny they are not out of each other's leagues and if it's possible on one machine, it should be possible on the other.
As for walking proof of this -- while the PS3's PS2 software emulator is hardly perfect, it runs a lot of games very well, and while you can get into circular discussions about whether the PS3 or Switch is ultimately more "powerful" (the Switch is.. sort of, but that's a completely different discussion) you can't deny they are not out of each other's leagues and if it's possible on one machine, it should be possible on the other.