At least add a timeout to the launcher window when the internet is being slow. I was busy uploading project files to a server and had to stare at this "loading" screen cause Unity could not finish whatever it needs to finish online before it will show the project list. I assume it was stuck at "loading" cause of trying to do something online brecause after I canceled my uploads and started Unity 1st this went fast.
It's trying to check if you have online stored projects (Unity Collaborate). The feature to be able to start "deliberately offline" already proposed to Unity they will look into it.