I think this is a good subject. All of us are going to have differing opinions and no one is right.
First, there are a few considerations
(1) Is it a hike, sleep, hike endeavor? If so, you just deal with where you end up — so to speak.
(2) Is there a specific destination? If so, you again just deal with where you end up — so to speak.
(3) Are you flexible to where you end your day or even willing to hike a ways from your route? This is often the best if you seek a view. Views are good, but you can't see them when you're sleeping.
Ridges and peaks are often great places. Decades ago one could camp on the peak of San Jacinto (with a permit). Awesome. Unless the weather was bad. I did this a lot.

The above site was great on a ridge with this view on the other side of the ridge (see below).

As noted, I like early morning sun too. But sometimes you can't get to the sunny side of a mountain or hill. And sometimes a river bed is great, just ignore the moisture. Below the sunny area was a cliff on the other side of the river. Prime consideration for this particular site was no neighbors. It was December and temps got down below freezing.

Desert washes are great if it doesn't rain within 100 miles…

On the other hand, washes with rain in the forecast can be difficult. On this trip I walked for 45 minutes trying to find a level spot above the wash that was level and not all boulders because I knew it was going to rain during the night…

Sand can make the best beds as long as you keep the sand out of your gear and food. Plus you can dig out a little depression for your hips…

When ever possible I try to sleep without a shelter. This requires the least amount of real estate. I am a side sleeper. But I find that if I start out on my back and watch the night sky I fall asleep the easiest. I know I will eventually end up on my side. I know some people really prefer a shelter. But experiment. It can open up many, many more options.
Often in wind, I will forgo a shelter. On this trip there were 5 of us. Wind gusts around 50 mph and flattened these two UL tents. Two guys had tarps which pretty much stayed in place with some nighttime adjustments.


I was fine without a shelter, other than trying to find (successfully) several pieces of gear that blew away during the night…
Sometimes finding a small piece of real estate that is flat and void of rocks and plants can be daunting. Below I had to walk 1/2 mile from where I wanted to camp and even the poncho/tarp had to be pitched over rocks and plants. Good thing I didn't bring a tent, I would still be looking for a good site…

You need to consider the soil and how much it might rain. Below is a playa, which is an indentation on a flat plain. I had to make sure the soil was real dry and could absorb some rain — otherwise I would have awaken in a small lake. I did move to the upper edge of the playa…

Sometimes what looks sloped, really isn't if you lay down and find a level place. Dead wood be damned, when wind is not in the forecast (not recommended)…

And then there are the times you must stealth camp, where the regulations are too difficult and vague to figure out, especially when two government officials gave you two different answers over the phone. You think you are okay, but not 100% sure you understand all the rules. In this case you crash through brush until you find an open clearing, which almost always means there is no water nearby and you might have a bed of rocks and debris under you…

Then there is the theory of using landmarks to shield you from high winds. Doesn't always work, so you (hopefully) brought a shelter that can withstand 70 mph gusts…

So…
1. Level site.
2. Morning sun.
3. View if possible — but I am sleeping so it isn't that critical. It does make camp chores around the campsite at night and in the morning more enjoyable.
Everything else is secondary unless weather conditions create a potential hazard. Hopefully, if I need a shelter, I brought the right one. But a shelter can limit my possible sites.
If skeeters might be a problem, I go up higher away from water, especially standing water. This usually isn't much of a problem because kids, dogs, adults, and skeeters generally don't like me.
A great site will have a rock to use as a back rest so you can cook dinner at night and sit in your sleeping bag to watch the stars, and then in the morning warm up catching the early morning sun while in your bag and cooking breakfast. The site below is what I seek whenever possible.

One last thing. If I can put my hips in a depression with my feet AND my head slightly elevated I sleep the best and my legs recover a lot quicker if it has been a strenuous day. Sometimes I put my pack under my feet so they are slightly elevated.
To be honest, I really don't give site selection that much thought. I just plop down when I am ready to stop most of the time. If there is a big rain coming, then I pay attention to drainage.