I think this sounds about right. There's usually not a big profit margin for manufacturers, stores take the biggest cut (but it makes sense since they sell far fewer units so in order to make money they need a bigger profit margin)
Often consoles are even sold at a loss, but that normally hasn't been the case for Nintendo, except for the 3DS after the early price drop.
It might not seem like it, but there's a LOT of tech packed into the Switch. And the fact that the controller is in 2 separate pieces, and has to have gyros, wireless hardware, rumble, battery and such in both, as well as wired connectivity, drives up the prices, if only by a few dollars each. It seems like the main Switch unit has gyros too, one of the minigames in 1-2-Switch makes use of it. The dock is probably the cheapest part to make, it feels like it's made of really cheap plastic, and the only tech in there is a basic USB hub and MyDP converter.