IMO everything shown is the kind of complete social integration that PSN and XBL should have had all this time. Based on what's been shown here, it seems it could be much more than just playing catch-up to XBL and PSN. This actually does take all the competitive feature and wraps them up in an even more expansive, potentially more cohesive, network and interface.
Nintendo is definitely building on what XBL, the leading online platform in terms of features and integration, has done. But true to form, they seem to have tried hard to come up with a fresh spin on things.
There's already a lot of people saying "they're doing it wrong, noooo!" across the net, but I don't think they're understanding what the presentation was getting at. It seems Wii U online has all the expected features. The Miiverse start-up screen isn't even the only dashboard - there's a more conventional dash available for use either on the controller or the screen, and they can be swapped at any time.