I mean, the 3DS' hardware was old when it released back in 2011, and they're still selling great in 2017 - even the New 3DS is nowhere near modern internals. I don't really think hardware age is going to be an issue.
It seems like a sound argument until we remember that Nintendo is Nintendo.
People buy the Nintendo brand for kids. Kids to adults want the Nintendo brand. And let's not forget that the New 3DS is a third the price of the Pyra.
I doubt many other brands could have gotten away with what Nintendo has been doing. Even if someone big like TI had made the 3DS, I doubt it would have sold well.
So, in our case, we have old(ish) hardware, no real brand recognition, and it costs more than any modern gaming console. Most people dropping by the project who don't fit within the target niche is probably just going to pass on by without a second though.
However, despite looking like it is trying to be a gaming device, I think the biggest converts will be older folks (30+) who want to play retro games they remember as kids, and techies who, like me, simply drool over the idea of an actually useful computer that can fit in a pocket.
So, yea, I'm sure hardware age, combined with the price, will turn a lot of people off, but for people who have always dreamed of having a device like this will be willing to fork over the dough