Could they do it... easily
will they... probably not
Just because they have the necessary hardware, doesn't mean it will work well
The processor would probably be fine, but wifi hardware isn't the same, even antennas are optimized for what they'll do. Having to talk to multiple devices a far distance requires much more transmit power than talking to one device at a far distance. And since the aTV doesn't typically send too much data, it's possible they designed the transmit side of the wifi with less power.
normal aTV placement (behind a TV, or buried in an A/V cabinet) isn't the best for getting a wifi signal out.
Wifi can also affect bluetooth, so if you have the 2.4 wifi "screaming" to all the other devices, you stand a good chance of interfering with the bluetooth connection to the remote.
So it would work fine if you
--don't have too many deivces
--they're all close to the aTV
--the aTV is in a good place for wifi signals.
There are a lot of variables that can easily lead to a less than optimal wifi performance, and it could even impact the basic operation of the device.
Even if it worked well 90% of the time, the other 10% will be "OMG this sucks!" and that's a lot of "bad press" to have out there for no reason.
