All of the above?
It’s sort of like asking “what do you think of cities?” or “what do you think of the ocean?” If you can give a simple answer, you probably don’t understand it very well. I mean, what can you say, ‘overall,’ about a concept that expresses the relationships between Ash and Pikachu, between Misty and Psyduck, between AZ and Floette, between Silver and his starter (whichever one it was), between the Gardevoir and the Gengar from Mystery Dungeon, and between Giovanni and Meowth? It’s all of those things and more, to different people and different Pokémon, in different places and at different times. Sometimes, maybe even a lot of the time, it’s not all it’s cracked up to be, but it’s also so utterly fundamental to the way the Pokémon world works that nothing else functions anymore without it. It’s life.