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All these arguments could be used to say Apple should not make headphones.
All Apple headphones have a huge advantage—they’re much better-integrated into the Apple ecosystem due to the W1/H1 chips. I see no significant advantage from Apple making a TV, that the ATV doesn’t already bring.
 
I don’t think there is much Apple can do when it comes to TV technology that will make it a must-have and so make everyone ditch their current TVs and upgrade regularly.

What Apple can do is make peripherals like tv and HomePods a must-have. The tv interface is already better than others I have seen and used, but can be a lot better with more features and benefits to make it a must-have.

Then make HomePods a must-have by adding as many as you want to enhance the surround sound that you can afford (like Sonos) and make a subwoofer.
Apple vs traditional home theater set up -

Apple really cannot compete with a mid-range AVR + speaker set up.
However, as you identified their Homepods, they need to have the television monitor in combination do more* than traditional TV and streaming. Without adding something useful and unique, they will just be another hardware provider.
 
Walk into Sams or Costco and what do see, piles of flat screen TVs. Apple would have to have one of big vendors make them for them. No $$ and a big hassle.
Plus, their stores aren’t designed for big TVs and no listen rooms for speakers. Then they would be competing with Best Buy.
 
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Apple vs traditional home theater set up -

Apple really cannot compete with a mid-range AVR + speaker set up.
However, as you identified their Homepods, they need to have the television monitor in combination do more* than traditional TV and streaming. Without adding something useful and unique, they will just be another hardware provider.
Not to mention the train wreck that the HomePod product line has been... still not sold on it as a platform... besides, I do not need a television that is part of a closed system... and the "It's Apple, it just works" days are long in the rearview... no... just no.
 
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