Nobody doubted that this would be Switch's biggest launch. But let's look at the numbers: XY sold 124,000 which is probably slightly less than Let's Go when you factor in digital sales. Let's Go is a remake of the most well known generation coming off Pokemon Go, a mobile game that made waves across mobile and the world. It's reasonable to expect Let's Go to ride at least some of the zeitgeist from Pokemon Go, and yet its done roughly the same numbers as XY. How much of a difference would stock shortages and a slightly larger install base have made? Perhaps a moderate amount, but probably not anything too significant. Regardless, this was not the bad launch that many wanted for whatever reason. It wasn't the "amazing" success that their opponents wanted. It was OK. As I said, the final tally of 116,000 is likely under what Nintendo wanted. Until we get more information from next week and beyond, we don't have the full context to fully judge these results.
If the second/third weeks shows a strong hold, then stock shortages were a significant factor to the final number, and I will re-evaluate my opinion.