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The benefit–cost ratio. Expensive for a portable. Powerless for a home console. I wouldn't mind if it have this exact same power, but for a $249 (with a cut to $199 within 2 years). I don't care that much for better graphics and I don't think power will ever be Nintendo thing again. For $299, I would expect at least close XOne power when docked, more storage capacity and some triple A third-party games at launch.

Also, paid online would make sense if Nintendo decided to play the big boys game with a premium device (third-parties massive support, great online multiplayer functionalities and free games monthly). Paying to play only Mario Kart and Splatoon online seems pointless and greedy.

The price of the peripherals is unbelievable. A Switch plus a pro controller (for a true good home console experience) will cost more than a PS4.

I think I can condensate the majority of the problem in one: the joy-cons.

That little motherfuckers costs too much. I though that Nintendo only gimmick for Switch would be the dock-undock thing and that would be a good thing. But no. They couldn't resist to put some more gimmick thing nobody wants. So they could make a stupid game like 1, 2, Switch. They simply tried to put Wii U, GBA and Wii in the same device.