It forces players to choose between useful combat powers and genuine utilities. Nobody is going to burn rare utility power slots on powers with marginal or niche uses when they can have vital things like Shield and Expeditious Retreat. They MAY put them in their spell books, but basically this means they'll be used even less often than rituals are now, it actually kicks these kinds of things even MORE to the curb.
There is some truth to this... but at the same time, Skill powers and other non-combat utilities already exist. Utility powers are rarely vital enough to a concept or build that they need to be taken, and I like having the ability to choose ones that can aid me out of combat - that's honestly what most utility powers should have been at the start!
If you don't feel it is a worthwhile investment, you don't ned to take it. If you do, you are hardly going to be crippled by the decision, any more than someone else who chose various situational utilities - like ones to Dispel Magic, or get you out of a grab, or help you spot hidden enemies. All of those could end up irrelevant in many encounters - that doesn't mean their existence in the game is a problem. You can choose a situational power that will be very useful in that situation, or you can choose more commonly useful ones. Nothing has changed that.
It means specific classes MUST be played in order to get specific vital capabilities. No longer can a party exist that doesn't have to have someone play a cleric just to get specific vital class feature based "ritualoids" like Raise Dead.
Rituals and ritual scrolls still exist. The existence of Instant Friends hasn't removed rituals from the game, so I'm not sure how this point applies...
Yes, and what does a trusted friend DO? He does whatever his buddy asks him to. Sure there are limitations on what you'll do for your best friend, but if you start to think about it a tiny bit those limits are pretty darn broad. Lend them most of your cash to get out of trouble? Yup. Lend them your car? Sure. Honestly, played in anything like an equitable fashion according to the description of the power it is a VERY powerful ability and there is basically no reason not to use it left and right on anyone who's opinion you could care less about the next day.
It
specifically says the subject avoids risking their property. They won't go into battle for you, they won't lend you stuff. If you can convince your Dm to have them help you out and lend you things, more power to you, but as written, that isn't the default state of the power.
They might put in a good word for you with contacts they know, they may provide you useful information, they might help you out in all sorts of ways. But the limitations built into the power help avoid most abuses. If you choose to let PCs push beyond that, that's your choice as the DM, not something forced on you by the power.