With the update applied, yes. The Switch version cannot match the 4K backgrounds of the PC Moguri Mod, but it offers something unique:
: All 3D character, monster, and weapon models have been completely redesigned with a modern, high-resolution look Quality of Life "Boosters" 3x Speed Mode Final Fantasy VIII Remastered SWITCH NSP -Update-
Final Fantasy VIII Remastered update for the Nintendo Switch includes several modernized features and quality-of-life improvements designed to enhance the original PlayStation experience. Key Remastered Features With the update applied, yes
Final Fantasy VIII Remastered: The Nintendo Switch Experience Final Fantasy VIII Remastered With the update applied