Hi and glad for your interest. Neo has been for the last many years (my sub-I was 38+ years ago) and continues to be a great field for me and my colleagues. I don't know many (there are always exceptions) folks who've regretted it as a career. Here are some of my observations, there are other neos on here who hopefully will chime in.
Lifestyle is variable but either private or academics you've committed yourself to a career that includes night call, usually in house. Frequency is highly variable from every 4th to a couple times a month but it is unlikely to go away until you are a VERY oldbear (older than me, and that's OLD). Now then, having said that, I don't think the lifestyle is all that terrible overall. Lots of folks have jobs in which they work some pattern of weeks or months on and off clinical service, academics are often 20-50% clinical, etc. It's not the cush lifestyle but it's not crushing, IMHO.
Salary I prefer not to discuss, other sites and sources cover that. There is a PP vs academic gap, but there are also lots of "semi-academic" positions where you might be at a NICU affiliated with the university. The PP vs academic gap is not as large as it once was from my vantage point and it can be balanced by lifestyle considerations.
Location? There are babies everywhere! Depends on what you want in terms of acuity, night call, salary, etc. Then are lots of NICUs in moderate sized towns (e.g 150,000-1 million population) and some on the outskirts of big cities close enough to have your chickens run free in the yard.
Job market? Good but not a "I can go anywhere" world. PP has more opportunities more broadly than academic. If you insist on being within the "big" academic market cities (near Fenway park for example....), you'll have more competition for jobs than in smaller communities. This is true for almost everything though. COVID has not been a huge factor in neonatology jobs as babies keep coming and for the most part most COVID+ moms do not deliver NICU babies.
My strong suggestion for med students is to try to arrange a sub-I in the NICU. It'll tell you if that's for you in a flash.