The controller raises a lot of interesting possibilities (though it's a little bulky for my tastes). And, unlike some, I think that the $300-$350 price tag is fine (compared to the $600 debut price tag of the PS3, that's a frickin' bargain bin price!). But I haven't been hearing a lot of buzz about it, considering it's supposed to be launching next month. I know it's supposed to be as powerful as the PS3/360. And, of course, I know about the controller. But I haven't heard much about the debut game lineup. And even gamer podcasts and shows don't seem to be giving it much attention.
Frankly I think Nintendo, for all their faults (most notably, their admittedly piss-poor online support), kind of gets the short-shrift in the gaming community. Their systems may not have the cutting edge CPU's and GPU's, but they do what they do pretty well. And they offer a pretty good bargain most of the time. I think they're underrated myself and wish they got more respect. Not every console and handheld has to cater 100% to hardcore gamers, you know.
I think you've kind of answered your own questions. $300-$350 for a console with the same power as consoles that have been out for five years (and that you can get for less). A focus on casual gamers for the previous console generation (or two), which doesn't exactly attract a lot of attention in the gaming world. A control scheme significantly different from the other main consoles, which means it will only really shine with games exclusive to that console - but a worrying lack of information on launch and first-party titles doesn't exactly instill confidence that there will be a decent library.
Now news that they are going to release an under-powered console, with a limited selection of games, at a loss. That doesn't exactly help me feel confident about the future of the console (or of Nintendo, for that matter). It will probably do just fine, but I don't really see much to get excited about. I know lots of people that bought a Wii, used it for a few months, and basically gave up on it because every game that was released that made use of the unique control scheme seemed to be more of a tech demo than a game. Maybe some really cool games did eventually come out, but if so it was long after interest had waned. The WiiU seems to be a repeat of that - interesting concept, great potential, but unless they have some full-fledged, finished games at launch that make good use of the controllers, it's not going to get much attention from the gaming community.