Interesting idea?
There are some valid concerns regarding a 'real' Apple TV, things like pricing, upgrade cycles etc but the one thing that occurs to me as a strong incentive when reading the rumours is the fact that the TV market is in such bad shape. Just like the pre-iPhone phone market it needs a visionary/focused company like Apple to step in and lead from the front & show people how to make the whole thing work.
That is my strongest 'proof' that Apple could be cooking something new behind the scenes. Apple's TV would likely carry features from other product lines but there's bound to be something completely game changing in there which will make their approach make complete sense & it's anybody's guess right now as to what that is.
Without blabbering on too much there's a second reason that would probably drive Apple to figure this market out.. Ecosystems (content lock in opportunities) & Product Synergy. There are strong packages of hardware & content out there (TVs, Set top boxes, Game Consoles, Services such as Netflix) & if you look carefully you can see that these devices & services could threaten Apple's ecosystem in the longer run.
If Apple tie up the loose end by addressing the living room properly then there's no reason to switch to other manufacturers for their hardware, content & services. You're investment in Apple content will pay off as a user & that keeps you loyal to the Apple ecosystem & the TV becomes another device in the chain (iPod > iPhone > iPad > Mac > TV).
With an Apple TV all bases are covered
or are they? (iCar)
iOS Powered Apple TV:
* A5/A6 Processor
* LED 1080p Screen
* 'Magic Wand' Remote Control (use gestures to control & interact with the TV) OR a built-in gesture recognition camera similar to the Kinect technology.
* Full iPad, iPhone & iPod Interactivity
* App Store Content
* iTunes Content
* FaceTime HD
* Notifications
* Games (Magic Wand + iPad could mimic the Wii/Wii U)
* AirPlay
* Photo Booth
* Integrated iPod/iTunes Jukebox
* iCloud Syncing
42+ inch - $1,999