Unless you have a tv in every single room like I do (jk), it's pretty useful. Go sit on the patio, in the backyard, cook in the kitchen, take the iPad with you and watch from any room. Seems useful to me.
It depends on who you are. If I want to watch tv in my home, I'd want to watch it on a bigger screen than an iPad if I had the choice. And if I'm on a patio or on the backyard, it's because I want to be outside, away from computers, tv's, etc. But each person has different preferences, so i see where you are coming from