What is shaded in blue are the Free Form Display Donut Shaped Screens. They give context inputs, the sticks are clickable so that either you have one context input, eg jump or multiple context inputs depending on the direction of the stick if twin stick camera and movement isn't required.
The shoulder and trigger buttons would allow for multitasking if twin stick movement and camera controls are required.
Red circles are speakers. Green shading is the display screen. Then, the Share and Home buttons are shown.
Edit: I feel that without any physical buttons added on the face... I'm sure the shoulder buttons would be fine if it was, hold R to dash, click stick to jump it'd be fine, press L to do additional action or click left stick it'd be fine.
The alternative is pretty much similar to the dev-kits anyway.