Wikipedia gives a formal definition of universal property: a universal property is associated with an initial (resp. terminal) object in the comma category $X \downarrow U$ (resp. $U \downarrow X$) for object X and functor U.
Is the above definition of universal properties overly narrow? (Similar questions have come up here a few times, but without real resolution -- see links below.)
For instance, how can you see the universal property of ring localization or the universal property of quotient groups as a case of the the initial/terminal morphisms in the Wikipedia definition?
One resolution that works for the above two examples is to modify the definition of universal property to consider the initial object in a subcategory of $X \downarrow U$. But then we're not really working with a comma category anymore, so we don't get an adjunction for free, and we lose the global perspective that an adjunction would give us.
A better solution for the above examples is to keep the Wikipedia definition and do a little more work. For instance, for quotient groups, define the category $C$ whose objects are pairs $(N,G)$ for group $G$ and $N \triangleleft G$, and where morphisms between $(N,G)$ and $(K,H)$ are maps $f : G \to H$ s.t. $f(N)=1$. Then for functor $U : \mathbf{Group} \to C, G \mapsto (\emptyset,G)$, we have that $G \to G/N$ is initial in $G \downarrow U$. Equivalently, we have an adjunction $F \dashv U$ for $F : C \to \mathbf{Group}$, $(N,G) \mapsto G/N$. A similar construction formalizes ring localization as a "true" universal propertry and also an adjunction.
Another questionable example is the universal property of tensor products, as discussed e.g. here and here. The usual universal property refers to bilinear maps, but that statement doesn't directly fit the Wikipedia definition. Alternatively, if you consider the tensor-hom adjunction and work out the associated universal property you get from an adjunction, you do get a "true" universal property, but you lose the reference to bilinear maps. (Though more optimistically, you end up defining bilinear maps from $X \times Y \to Z$ as maps $X \to \textrm{hom}(Y,Z)$.)
So far, we've been able to make all of our examples fit the Wikipedia definition, but it's taken some work. Is there an alternative definition that doesn't require us to work as hard? (Admittedly, the "work" is illuminating in a way.) Or are there any examples that one wants to call universal properties that really don't fit the definition?