You realize iTunes purchased content is called Library?
You meant it doesn’t work with Home Sharing then, not iTunes. It integrates with iTunes on day one.
Your iTunes library is everything you add to it, whether purchased through iTunes or not. All the "Library" menu options in iTunes are based on that such as "Add to Library" which wouldn't even have a purpose if the Library only referred to purchased content.
So the TV app doesn't integrate with iTunes (your library), it only integrates content purchased on iTS. iTunes ≠ iTS purchased content.