I wouldn´t say that the hardware is bad at all. Some games make great use of the gamepad
But after that dissapoiting E3, I´d say that it will likely be the worst Nintendo home console ever in therms of software. Nintendo seems to give up completely on the device by not giving it new software and by not using some of their main franchises. Basically, it´s a console for Mario Kart 8 and Smash Bros, only.
They could at least bring Metroid, Animal Crossing and another franchise (like Kid Icarus, Punch-Out etc.) for it.