ATV4 just keeps getting better and better. No 4k, no GigE, universal search doesn't include iTunes Home Sharing library, no Remote app, app store browsing interface is painfully inefficient...and now I'm hearing there's no 24p. It's reasonable to expect a rash of bugs in the early days of a new product, but it seems these disappointing omissions are deliberate.
I'm not (yet) as distraught over the 4k business as some are (although I'm surprised Apple passed up the opportunity to cheekily market 4k for the Apple TV 4). I'm a bit of a late adopter anyway, and I was excited to put away the discs and just stream all my iTunes library content over the network. It gave me pause to hear Siri is largely ignorant of shared iTunes library, but then I'm also hearing that Siri search API will be opened to apps eventually so I have hope. And I understand ripping my discs into sane file sizes means compromising a bit in quality, and I'm willing to give up that bit of quality for the great convenience of not having to mess with these optical discs any longer (and risk accidentally dropping, scratching them, etc). But 99% of movies are 24p, so outputting a forced 60Hz means pulldown judder (unless one has a TV capable of decent reverse telecine); this revelation means the compromise is worse than I hoped. As OP states, commodity $30 optical disc players have been able to output (and TVs have been able to display) native 24p for years now, to emulate the authentic cinematic experience. Completing the journey from disc to eyeballs in uncompromised 24p is even a big selling point for 96/120/240 Hz TVs and projectors and optical players. Indeed, since the days of DVD, players themselves have even had reverse telecine, so Apple's insistence on 60Hz for everything is all the more frustrating, and is a marked step backwards.
i remain hopeful Apple will eventually address these shortcomings; it's just a bit puzzling they didn't make it into the initial - 4th - release. Planned obsolescence? Anyway, let's hope the next revision doesn't take another 3 and a half years.