My take on the factions is this:
NCR:
The closest to a contemporal democratic government like e.g. USA you can get. In principle they have good intentions and mostly acceptable methods to reach them.
The big BUT: They also have a lot of persons like Col. Moore or General Oliver, who think that the end justifies the means, leading them to do stuff like the Bitter Springs massacre.
Legion:
Caesar has a high goal but even a good intenting tyrant and mass murderer is still a tyrant and mass murderer.
The society he wants to build may look good on the surface, but only as long as you are male and able-bodied so you can fight in the legion.
But would you want to be part of it as a woman? Or if you are nothing else than a hard working slave? Or a pacifist?
House:
Reminds me of libertarians. Their ideas may work in a perfect world, but just how egoistic is he going to be?
Yes Man:
Something of a question mark, but from what we saw in the end it seems to guarantee a certain independance to NV.
Also, basically it's you who is in power, so you can apply your own moral standards.
Followers:
A very idealistic bunch. Would probably create the best possible world for all, IF all would follow their ideals.
Which they aren't of course. So they won't ever get very far.
Kahns:
What I would describe as "chaotic neutral". Somewhat understandable that they repeatedly get wiped out, considering that they are mostly considered (and acting like) bandits.
However, they also get one of the best possible endings, if they only get some guidance.
BOS:
Militaristic and self-serving. Only interested in weapons. Their original mission of conserving the scientific knowledge has become meaningless because they do it for the sake of simply collecting technology. They are not using it in any way to improve humanity.