According to a recent interview from Famitsu, SEGA’s Naoki Horii stated that the Nintendo Switch was close to successfully running Dreamcast titles via emulation. Horii also explained that, because the developers still have the source code for many of their Dreamcast games, they could theoretically remake or port over certain Dreamcast games altogether. However, for the time being, Sega is leaning more toward simply emulating the games instead. Whether or not Sega will continue to push forward with their "Dreamcast on Switch" development is still a mystery, but at least we are one step closer to the possibility!
Thanks to Thatwaluigidude for the heads-up!