Intent is a factor here. If the Psionic Wizard is intended to replace the Psion, then yes, it's a bit of a mess. But that's not the intent that I'm currently getting. I'm getting a Wizard that studies Psionics the same way a Wizard studies the school of Enchantment. Therefore this is a Wizard that uses Psionic spells, but is still primarily a Wizard. More a Cerebremancer than a full Psion.
As for the critique, I don't care to go after every point, but here's a few hyperbolic statements I take issue with:
1. Psionic Focus - Why is this not replacing your spellbook at least? Why the damage focus on a traditionally utility-focused concept?
I'm not sure what you mean by replacing. Does it function as a spellbook, requiring the usual expenditures of gold to scribe spells into it?
2. Psionic Devotion - Why pick one? This stuff is core to the idea of being Psionic, so why are you Psionic some of the time but not most of the time? We will see this theme recur, sadly.
Again, my reading is that this is a Wizard that studies Psionics, not a Psion. Different beast. Also, for balance reasons.
3. Thought Form - What the heck? That isn't a thing. That's never been a thing. They shove the ability to cast without components, a key Psionic concept, into a sub-ability of a high powered, flashy and totally unnecessary defensive ability. Terrible.
This is most definitely a thing. Seriously? Shedding one's body and becoming a creature of pure energy is what Psionic users
do. Dozens of examples in fiction: becoming one with the Force like Yoda, all those energy beings in Star Trek and Babylon 5, Protoss from StarCraft. Mind over matter is such a core Psionic concept, I don't understand the hatred. This, to me, is pretty darn cool.
Also ... unnecessary? This replaces the battery of defensive spells I see wizards run and it doesn't require Concentration.