It totally depends on the nature of the trip.
I haven't travelled much the last 4 years, but I did book my first Airbnb ever, as a guest, for a planned trip to the UK this past April (haha, just before the pandemic).
Since I was mainly going to be staying with friends and family, I only need two nights, close to an event I was attending. So my criteria were proximity to the event via walking or transit, cost, since I wasn't going to be spending the majority of my time in the Airbnb, and I didn't need an entire place to myself, and clean and comfortable, with good reviews. I don't look for food, since I'm Vegan, but morning coffee is nice. I barely cook at home, so kitchen is a non-issue. Non-smoking. Smoking, for me, is a definite deal-breaker.
I ended up with a private room in a shared house, 5 stars, as it happened, with great reviews, although a fairly new host, so not a long history, and the host communicated well with me. I wouldn't have been concerned with fewer than 5 stars, if the reviews were good.
I never did check the cancellation policy, but, as it turned out, it was flexible. But I was able to cancel via the hated ECP, since I booked before March 14th, but I did communicate with the host first, and she was pretty understanding about it. I would book with her again, if I'm ever out that way.
I did, also, buy travel insurance. You'd all be fascinated to know that it still hasn't paid me out for my cancelled trip, although I had CFAR. The latest communication I received on 8/27/20 was that they "never got my completed cancellation claim form" which I emailed on April 8th, and received an automated receipt notice back.
Looking at everyone's lists of requirements, I'm pretty sure none of you would book with me 😉