My take. I have little problem stating that overall, the President’s speech was, in fact, quite good in many respects. Kudos to him for giving it. But the opportunity was there for the President to apply rhetorical pressure upon the Egyptian government to lend further recognition and respect to the legitimate democratic aspirations of the Egyptian people. Through that action, Egypt could establish itself as a positive role model for the rest of the Muslim community–an act the Obama Administration could have taken justified pride in having promoted.
Instead, the President chose to forgo any discussion whatsoever of the specific political situation inside of Egypt. An opportunity lost–one that I am not sure will come up anytime soon.
UPDATE: More from Max Boot.