the subscription states that you get 1 free nes or super nes game with online play for that month ( I think you don't hae it after that month) so thre is VC
I'd be shocked if NES and SNES games didn't run but what about DS and 3DS, if it doesn't have BC for those titles this is a major fail.
Edit:
To be clear my view is fail mostly bc of the price, a 300 machine that only has first party titles to drive sales won't do well. Atleast not in terms of how I choose to invest in platforms.