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The reality is that the Hub needs to be something guaranteed to be always connected at home and an iPad isnt that. If you think they did it to promote sales of the new Hub thing, then why can you buy a cheap used older Apple TV and use that. No one is stopping you from using your old iPad to control your home network.
Unfortunately my AppleTV 4k (3rd gen) hasn't held up too well for some devices, mainly Matter IoT devices. It will constantly and permanently disconnect bulbs, switches and other things. The only way to get them working again is to go through the entire pairing process again.

And, I never power off my AppleTV (unplug) - It always has power and plugged in, and should keep the connections. However it loses them especially from Matter devices (Homekit specific devices seem to be a bit more reliable), but it loses connections to my Kasa and TP-Link/Tapo lights all the time, and they're within arms reach of the AppleTV.

So there are definitely still issues with using the AppleTV as a home hub, mainly with Matter/future devices. Which is a huge problem, as that IS the future.

And sadly, the way Apple is going, I assume the stability and overall quality of their "Home Hub" will be on-par with Apple products these days, meaning, most of these issues will likely not work any better than they currently do on the AppleTV.
 
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Zigbee and Zwave devices are the way.
If they were to integrate a zigbee and zwave receiver, I think that people would dump SmartThings, Homey would be a non-starter, and who knows maybe some Hubitat and Home Assistant users move over.

I know I would. I use my Home Assistant to add everything via the Homekit Bridge and then use Apple Home for the automations.

Life would be so much more simple with just an apple home hub that is truly a smart hub. I am not as motivated to drop apple prices on what will just be a smart hub with thread just for the apple dashboard.
 
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What would make me consider a new Apple home hub of some sort - one that starts off from the Apple TV?

Act as a network access point or extender. So would need an Ethernet port or a USB port to use with an Ethernet adaptor.
Positively no camera (but the option to attach one for those who want that).
Allow an SSD or two to be attached. For a network shared location or for backup (I'd like to backup my MBP without plugging a drive in) - or both.
As others have said, compatible with as many existing smart devices as feasible.
Assuming it can be locked, support easy automatic unlock with Apple Watch or iPhone so that the locking can be ignored almost all the time.
And enough power to ensure no external power supply needed for the intended attached devices!
 
to make it worth while they need to get siri right and thats likely why it's not coming out until after 2026.

google's device coming with google gemini will eat it's lunch if they don't sort it out
 
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