So for quite a while now a popular rumor has been one saying that Nintendo's planning a new model of Switch, but the rumors kept pointing to this new model being similar to something like the New 3DS, PS4 Pro, or Xbox One X, a "mid generation refresh" that would feature slightly improved specs but not enough to be considered a "next gen" machine. One part of this rumor stated that Nintendo would be using an OLED display on the "new Switch," something that actually was present on the ill-fated PlayStation Vita, though only the first generation Vita models (Sony switch to regular LED when it became clear the Vita wasn't selling enough to make back the manufacturing costs to justify an at-the-time pricey OLED display).
As of July 6, 2021, at least one part of the rumor was proven true. Nintendo is indeed releasing a new model of Switch which uses an OLED display, however it needs to be noted that this is NOT a new version of the system with improved specs, heck Nintendo's official name for the model is just "Nintendo Switch (OLED Version)" (safe to say a "mid generation refresh" model of Switch would use a slightly altered name like "Super Nintendo Switch" or even "New Nintendo Switch"). The main differences between this and the regular model in addition to the OLED display (which is slightly bigger than the current Switch's LED display) are that is has a wider kickstand for tabletop play, improved audio in handheld mode, 64GB of internal storage, and the dock for this model has a built in LAN port rather than requiring an add-on (though it looks like the dock with LAN built in will also be sold by itself for anyone who only wants the upgraded dock).
And yeah Nintendo was quick to note that no the OLED model does not feature any changes to the RAM, processor, etc, it's still only going to display up to 1080p when docked and won't have any performance enhancements for currently available games. They're planning to launch it on October 8 to coincide with Metroid Dread, and it's only $50 more expensive than the current Switch model ($350 as opposed to $300).
On one hand if you're either someone who doesn't own a Switch yet, or you're someone who almost always plays Switch in handheld mode this new model sounds worth it since you'll be getting a better looking display and a few extra goodies to boot, but if you already own a current model Switch then it's probably not worth it if you're someone who sticks mostly to docked play as you're not gonna see any real benefits.