Lol..if the only thing keeping emulation of 'Switch 2' at bay are the encryption keys then I give it 6mths, at most, before it's cracked.
...and it couldn't happen to a nicer bunch of corporate scum than Nintendo.
They kind of have to keep the format for backwards compatibility. No way Switch cartridges wouldn't work with Switch 2! Unless they develop a new format just in spite of emulators and support both!
They could go all digital people seem used to it now if look a other platforms.
This explains why Nintendon't is trying with all their might to shut down any and all people that are active in the emulation scene including people just showcasing other systems with Switch emulation in their content.
Where there's a will there's a way, Nintendon't should look to Sony and Microsoft for examples on how to prevent it.
Sony and MS are widely jailbroken. My second PS5 is jailbroken