Built-in NTSC: No. But, I'd expect devices like HomeRun to build apps for the AppleTV to stream DVR-recorded content throughout the house for people who do plan on watching live TV with DVR functionality built in. As always, the sticking point there is still the "TV Guide" data, which is locked up by a handful of companies who are highly rent-seeking, which is why you can hook an ElGato device up to your Mac and watch/record live TV all day long, but if you want to know what show is actually on that channel you have to subscribe to a $10/month "guide" service (there are free alternatives, but they tend to not be as accurate, or at least weren't a few years back when I cared to look).
Elgato's TV Guide is pretty accurate and is $19.95 per year. Titan TV is free and works with Elgato and Homerun.