A side question.
From your underlining of the words, I assume you think this is too powerful for sorcerers to be allowed to do.
If this too powerful for sorcerers to do.... why would it be okay for "psions" to do it? And aren't those "Psionic abilities" going to start with a basic version that costs 0 points? Something that may look, for example, like the Mind Sliver cantrip or Message?
Sorcerers.
I will say more than a single word. Sorcerers by their fluff channel and manipulate their internal power, which is classified as Arcane magic. In fact, let me ask you this question. If Arcane magic was solely the province of manipulating external energy, why then does sleeping allow you to recover spell slots? And why do you have different levels of spell slots based upon your level and experience?
Those factors indicate to me that Arcane energy is just as much internal energy, as it is external. So, saying "Psionics aren't magic because they are focused on an internal well of power" seems to break with how magic is presented, which is both an internal and external source of power.
Well, the committee were the fans. The things they were excited about we constantly tore apart. Maybe this isn't the best design ever conceived, but don't act like they didn't try. They did try, repeatedly, and the fans told them no.
Max, this isn't going to bomb.
Even if, even if the majority of players despise the the psionic spells in this book, it will sell well and be well recieved. Why? Because it offers 27 new class options. It offers new familiars. It offers new spells. It offers a new system for character creation. It offers new magic items.
This book is going to be a hit, because of all the other stuff in it. And the psionic spells are good, so they will be liked. Not because they are psionics, but because they are good and interesting spells.
Maybe they will release a UA for their 8th or 9th attempt at a full Psion class after this, but we are getting psionic subclasses and spells, and people are going to like them. And WoTC is likely to put their energy to something new, and put down their five year burden.