The issue is that, while it's only been out a week, Nintendo hasn't issued a roadmap or guidance as for what's coming in the future. More critically, they haven't laid out a vision for the product.
Game Pass is a useful comparison -- Microsoft communicated that they want to set up an "all you can eat" subscription service, a la Netflix, when they first announced the product. They've communicated each month which games are coming and going on the service. They've made splashy, public acquisitions. They've put their big, first-party titles on the service, even if they could earn more money selling them as one-off products.
Nintendo hasn't done any of that. They only said "you'll get an Animal Crossing expansion, some Genesis games, and some N64 games" (without giving a roadmap as to what games will be releasing or when). An Animal Crossing DLC, while appreciated, isn't in the same tier as Microsoft putting their two big holiday titles (Forza Horizon & Halo) on Game Pass, and there's no clue for me as a consumer what else that $50/year will buy me, so I can only judge it based on what they've already released.