I came in here to make exactly your points 2 and 3. They cannot be overstated: they haven't even gotten the budget math to work out yet.
Given unlimited resources, sure, who wouldn't want free universities. But making it work within our real-life constraints means something else is going to suffer for that, and in today's reality it's going to be really hard to make the case that this is a priority. (Especially when many high school graduates are still basically illiterate, so only elite graduates will make it in, which means we'll be further subsidizing the elite).
Given unlimited resources, sure, who wouldn't want free universities. But making it work within our real-life constraints means something else is going to suffer for that, and in today's reality it's going to be really hard to make the case that this is a priority. (Especially when many high school graduates are still basically illiterate, so only elite graduates will make it in, which means we'll be further subsidizing the elite).