It's still a good deal. I mean for $60 you can get one year of PS+ or 3 years of Switch online... or you use steam if that's an option.
On top of the same features of online play and occasional "free" games, PS+ gives me a better infrastructure, better tools for communicating with players, better options for interacting with the playing community at large (events calendar, group text chat lobbies), a diverse selection of apps (granted, PS+ not necessary for most of them but the cost of hosting and updating them likely comes directly from PS+ generated funds), and more. Oh, and all users get access to the Playstation App and Playstation Messenger App.
Switch Online... gives me online play, occasional free games, and a poorly constructed app with half assed social functions and limited voice chat.
When you compare all the functions offered by XBL and PS+ designed to support the XBL/PS+ user experience compared to the absolute barebones features offered by Nintendo, the value proposition falls apart.
Before you even start typing this tired excuse, don't give me the "it's Nintendo's first major attempt" defense. Nintendo's not in a vacuum, nor is it their first major attempt (arguably the Wii was; this is their
third or fourth attempt if you include the Wii, 3DS, Wii U and now Switch). Microsoft, Sony, and PC have established bare basics for what should be included in a modern 2017 multiplayer service and Nintendo isn't even close. They're not even close to XBL or PSN of 2008, and the latter
was completely free.