Tl dr the atv is going back. I had to see for myself and bought both to plug into my 4K tv. I had intended to write a huge long synopsis of why I kept the shield over the Atv but I will keep it short 4K really matters to me. I have OCD when it comes to picture quality, and it bugged me when watching Netflix, and YouTube through the Atv that it was only 1080p. At this point I will concede that there is not a ton of content, but Netflix is consistently putting out content, and watching MKBHD content on you tube in 4K is breathtaking quality. Also the nvidia shield is the smoothest 4K streaming available videos that choke out my high spec Imac are butter on the shield. As compared to the very rigid curated Atv 3 experience, the Atv 4 has greatly improved. There are now tons of apps, way more then what is on android tv. They still kept a few doors closed though. As a cord cutter having full access to KODI to fill in some gaps is a god send. I also subscribed to sling TV, and got a HD antenna so I am now able to watch Anything any time for the $14 per month I pay to sling. Another plus to the shield is that You have the ability to side load any android app, so any holes in android tv, like lack of Spotify app are solved easily. Also if you want to hack the shield it has a unlocked boot loader so sky is the limit with what you can do. You can change the whole UI if it suits you. Stock both the the Atv and sheild are almost identical, but it is nice to know that I can one day change it to a folder based system, or hide apps is nice. Gaming is not even in the same conversation. The shield ships with a controller, and has a subscription service that allows you to play gorgeous PC versions of games. The Atv probably has a much higher quantity, but the shield is capable of playing AAA titles that look on par with my PS4. This is all moot because I am really tied into the PS ecosystem but you could feasibly use this as a REAL gaming system. I intend to throw on a bunch of emulators in the near future as this could be the best retro gaming rig of all time. Overall I really think the selling point of the Atv 4 was going to be the streaming service, that never materialized. Without it, it is not the best streaming device on the market. I considered just keeping it in case a killer app rolled out, but after not even turning it on for a few days I decided to send it back. It really had no major innovation IMO. Had they put in the ability for 4K60 I would have kept it.