If this had been the direct successor to the Wii, I think the tone of this whole conversation would be wildly different. A vast majority of people would be flipping out in excitement. Not to say that there isn't excitement for the Switch, but there is a lot of uncertainty.
In a vacuum, the Switch presentation might very well be one of the best executed console reveals that I can think of. In terms of other launch lineups, having Breath of the Wild automatically puts it leagues above nearly every other console ever. Most consoles launch with jack squat. Tech demos and hastily thrown together ports of last-gen titles. If you're lucky, you get one killer app to tide the early adopters over until everyone can pump out their games for the system, and this takes a lot of time, energy, skill, and risk, since you're working with unproven tech and a platform with a non-existent install base.
So yeah, relatively great launch lineup, distinctive concept, range of in-development titles appealing to both core and casual gamers (Nintendo clearly wants this to both play core games and something that you easily bring to parties for lots of silly fun). Also, what looks to be a proper online service. In another timeline, this would have knocked our socks off.
But we're not in a vacuum, are we? They're competing against consoles that also have a $300 price point, and with more graphical horsepower to boot. They're competing against mature and proven online services. They're competing against software libraries that have had a few years to build up. And they're competing against existing install bases.
Even worse, Nintendo is coming off of a console that was quickly abandoned by major third party publishers. It was a tremendous disappointment on many fronts, and given Nintendo's tumultuous history with 3rd parties and their tradition of marching to the beat of their own drum, for better or worse, the Switch has tremendous expectations riding on it. We don't have any way of knowing whether or not the Switch is going to be abandoned like the Wii U, and while we had a lot of showings from third parties talking about how excited they were to partner with Nintendo, we also saw that with the Wii U, and it didn't last there.
Nintendo has its work cut out for it. It needs to market the hell out of its console. It needs an insane amount of buzz, and Nintendo cannot count on the Wii's lightning in a bottle nature and assume that it will magically happen. And it needs games. Lots of games, good games, and fast. They need to get dev kits in as many hands as possible, and they need to make developing for Switch as easy as possible. During release droughts, it needs to be doing whatever it can to fill the gaps, whether it be ports of Wii U games or big notable VC drops. They need to give people a reason for the Switch to be a must-own device.
We shall see if they can do it.