If they had cut short the Zelda bullshit at the beginning and instead had Miyamoto talk through the full Zelda Wii U demo, lighting switches and all, as a tech demo of Wii U, it would have been a fucking winner.
http://www.youtube.com/watch?v=hTkCIJGTe_U
THAT is an impressive tech demo to me. Now it might not be the mightiest graphics ever, but I think in terms of getting great shaders and reflections to ramp up a scene, real-time full scene light changes and very smooth framerate, I'm impressed. Its obviously got more to give, too, because we can't see any moments with less than smooth gameplay.
Why not show this fully? Why not have Miyamoto on stage showing "look, we're not ready to show you all our games yet, but this is the sort of tech it has. But next, look at all the amazing gameplay things we can do with this screen. Look at what the developers are saying."