I assume there will be more about Lion down the line, and hopefully that will mean feature announcements which actually give me reason to get excited about the next major revision.
But so far, only one thing stands out in Lion. Every previous Big Cat OS X announcement has focused on what will be good for users. The Lion announcement primarily focuses on what will be good for Apple.
Basically, Apple plans to raid the already thin margins of small developers and foist yet another schizophrenic interface change on us, all in exchange for a few marginal refinements. Couple this with Steve Jobs' unconscionable commitment to policing the private morality of his customers and I'm left with less and less reason to stick with Apple.
The only thing keeping me here now is the financial pain of re-purchasing software on another platform. The Mac experience itself is evaporating.