-Price: Exactly the same as the basic Wii U at launch. Comparing it to the PS4 is disingenuous as it is a 4 year old console [1], it is £100 cheaper than the PS4 Pro deals currently on Amazon. Who are 'most people'? This article implies that it is the expected price point [2]: http://time.com/4632820/nintendo-switch-nx/.
-Storage: The Wii U only had a basic 8GB which is enough for most use cases except downloading games. The switch can extend with SD cards too. As games will be shipped on cards like the DS I doubt this will be an issue for the average user.
-Online: I would consider the playing with others side of this more important than the free game. Though it is a shame that the games are only for the month. This is a fairly new thing for Nintendo so I hope it improves.
-Launch: it might have a few but I expect the fact that one of them is Zelda will help it a lot.
Personally I'm excited for it and it is perfect for my kind of gaming: mostly on the go. I'm rarely at home long enough to make the investment into systems that I can't take with me. Of course, YMMV.
[1] I'm not making a judgement call on specs here, just pointing out that, of course, an older console is cheaper.
Storage is really a non-issue. You can get enough space for 10 AAA-quality games (presumably 25GB each) for $80: http://amzn.to/2iPJOja (Ironically, it's a Sony product...)
And an even more conservative tripling of storage (64GB card) only sets you back about $20: http://amzn.to/2jfrROp
But I still buy the vast majority of my games on physical media, mainly because that's the only way to get a good discount. Until there's the option to be price-competitive via 3rd-party sellers, I'm not buying into any on-device game store at all.
-Battery life is 2.5-6 hours depending on the game. This is comparable to the 3DS line: http://kotaku.com/how-does-the-new-3ds-compare-to-the-older-.... We will have to see how well it does in practice though.
-Storage: The Wii U only had a basic 8GB which is enough for most use cases except downloading games. The switch can extend with SD cards too. As games will be shipped on cards like the DS I doubt this will be an issue for the average user.
-Online: I would consider the playing with others side of this more important than the free game. Though it is a shame that the games are only for the month. This is a fairly new thing for Nintendo so I hope it improves.
-Launch: it might have a few but I expect the fact that one of them is Zelda will help it a lot.
Personally I'm excited for it and it is perfect for my kind of gaming: mostly on the go. I'm rarely at home long enough to make the investment into systems that I can't take with me. Of course, YMMV.
[1] I'm not making a judgement call on specs here, just pointing out that, of course, an older console is cheaper.
[2] The accessories though, are not cheap.