As a PC Gamer I could never imagine paying to play online. This is relatively annoying. Pay to play isn't a new concept. Not even looking at XBL. Subscription based MMOs. Hell, SEGA had a device where you paid to play select games over a connection. Not a proper example, but still.
Nintendo wants to join Sony/Microsoft in charging for online play. It's money. Nintendo can only float for so long.
They make very good single player games so I don't know how much it really matters but they are also basically selling a locked down gaming tablet for way too much. Definitely not "locked down". Not even sure where you're going with this.
In summary,
The hardware is weak. Subjective.
The price is high. Arguable. It depends on how you want to go about it.
You will pay to play/watch online content. If it's anything like Sony and Xbox, you'll be paying to play. I don't think you need Gold or PSN+ for Netflix and the like.
Not worth it at all. Again, subjective.
Like most Nintendo platforms it will only have 1-10 good Mario/Zelda/Pokemon games and the rest are not really worth playing. Read above.
They will be charging $60+ for these good games even though they are low poly/low res compared to a game you would regularly buy for that price. Quality over quantity. Nintendo is more known for the quality of their AAA titles. Graphics shouldn't be an argument. If it is, your standards are to blame.