What would also have been a game changer and major selling point for the Apple TV with regards to content:
http://www.gaikai.com/
Sony was faster, though. Imagine a native Gaikai cloud games app (without the JAVA component) on the Apple TV to play all games that are available on the PC/consoles. Sony really did a great job buying them as fast as they did. Why Apple didn´t do this is just beyond me. They have so much money that is just laying around. The technology to deliver games to people just blew my mind. It really looked fantastic when I demoed it. And it will get even better with more advanced compression algorithms like HEVC in the future.
Still too early for this kind of tech. While this would work in countries like Korea or even Japan, this doesn't work as well in larger countries like the United States or Australia. Part of the problem is the internet backbone for general consumers is not up to streaming live video games at even a fraction of the quality of a live game. It most certainly isn't an option for any "twitch" based game play where sensitivity to network latency is already and issue.
Slap all the compression on you want, if it still takes 80ms for the video to get to player and get decoded it's already too late. You don't see this with live video. OnLive tried to push this market, and basically brained itself.
Too early. Technology and infrastructure are not there to support it. Apple will not embrace streaming live Apps across the Internet....
That ranted, if Apple was to leverage their ecosystem effect you could get a home Mac (even a MacMini in some cases) to run and stream games on local home networks, which can handle it. This is where Valve is looking, not Internet to TV games but PC to TV games.
To expand, unless the AppleTV gets a serious memory boost it'll have a hard time storing more then a few games at time. If it could pull from an iTunes cached App on a local network Mac to live swap games or even partially load them mid-play, that would change things. Considering other iOS devices can already have their content 'synced' while in use and over WiFi this is actually a possible and practical option. I've seen others on MacRumors point out that using a TimeCapsule could also be used for similar App caching.