Now we know a LOT more -- Microsoft held it's PR reveal this morning. And *to me* it looks like the cash grab scenario is indeed accurate, though it could turn out that I'm wrong. There's one big change to the hardware requirements -- TPM 2 -- which if enforced IMHO would mean that some 90% of consumers can forget about it. Microsoft could be more relaxed about enforcement, or change their mind, or there could be an easy hack, but it's too soon to know. You can safely bet that there will be a slew of new PCs & laptops that come with TPM 2 this holiday season, which is why the cash grab aspect makes sense to me. That said, Microsoft could actually make use of TPM 2 in a way that really does matter, e.g. sandboxing each app running, but AFAIK nothing like that was announced.
Some PC motherboards do have an onboard socket for a TPM [Trusted Platform Module] card, but those cards are generally hard to find with the exception of an Asus card on Amazon, and it appears that there is an initial rush to grab what's available. That could change if Win11 seems like it's going to be popular, but right now if you're interested you should probably be looking for a TPM card before the few available sell out. FWIW I did read one post where someone got the Asus TPM card to work on a non-Asus board by using a USB header extension cable and modding the sockets/pins.
Other than TPM, the requirements include UEFI BIOs, which most even somewhat current systems are capable of, 64GB storage, which only effects cheaper tablets & such, and Win11 is 64-bit only, which effects almost no one. And a Microsoft account and internet connection will be required to install Win11 Home. Win11 will be a free upgrade for at least the 1st year -- it's anyone's guess if they'll charge after that -- and you can only upgrade from the latest version of Win10, so if you're on 7 you'd have to upgrade to 10 beforehand. There will be a version or feature upgrade to Win10 this fall, but beyond that all we know for sure is that Microsoft has committed to supporting Win10 until 2025.
Personally I think it's 50/50 at best whether Win11 is a hit or goes the way of Windows ME, which most people have never heard of. It's conceivable that Win11 will provide more performance, e.g. for gaming, but stuff like the new DX 12 Ultimate won't matter if few gamers move to the platform, since game devs will then ignore it. Win11 will support Android apps, but only via the Amazon app store, which will be included in the store for Win11. That means fewer apps, and whether Microsoft does anything to scale them to typical Windows screens remains to be seen. One thing that I suspect will turn off quite a few people is the new Start Menu -- it gets rid of the tiles, but it also gets rid of folders (!).
If you want to check Win11 out early, a copy should be released to the Insider Dev channel next week, but the way they word it sounds like you might need to set that up today. Initially Insiders will not need TPM 2, but Win11 will quit working once it's officially released if TPM 2 is absent -- that's what they say today anyway. They actually take what seems a bit of a hard line, saying that if you have problems and wind up resetting your PC, if you don't have TPM 2 you won't be able to reinstall Win11.
AT any rate... I think it's insane to disqualify the Vast Majority of Windows devices out there from ever running Win11, unless Win11 is more of an experiment to see if people will actually buy it, like the Windows phone, or any of the many other products Microsoft's come out with & soon after discontinued.