This "long awaited" tv service is another thing that baffles me. I cut the cord for a reason: to get away from all the crappy channels, commercials, and programming and focus only on the channels and shows I like.
With Apple TV we have access to HBO, Showtime, Netflix, Hulu, PBS, and various other channels with premium, commercial-free content. Why on earth would anyone want - let alone pay $40/mo for - crappy networks like CBS, ABC, NBC, and FOX? On the rare occasion when a good show is on one of those channels, it can be better accessed, commercial-free, via other services.
This is yet another sign of Apple targeting the older baby boomer demographic, in sharp contrast to the younger audience they once catered to.