This is pretty accurate, from someone who just got one as a gift. They are useful devices, however your criticism is spot on.

That said, a couple big advantages I haven’t seen advertised:

- I don’t have a dozen notebooks around, just one - easy to start a new notebook, plus the centralization, is sort of an “organized by default” mode - I can’t take notes on my computer, so it’s either this or paper - distraction free is good, and the physicality of the pen and screen is a much better experience than an iPad

Your other criticisms are valid and a little too accurate. It’s still a useful device, there’s just a bit of a premium price because of the fancy factors you discussed.