That's because Apple is famous for just a little more than price and technology .... They tend to deliver on the whole package or in this case the whole 'picture'. 😀
The question is what can they add to the "picture" so they can justify a premium price?
Picture quality is largely driven by content, not technology - and Apple has avoided the most common HD source of content - BluRay. No matter how good the TV is it'll be no better than the content, all of which is available to all TV makers.
itvOS? Apple has been very good a wrapping great hardware around a great OS. Can they translate that to the big scree? Is a super-sized iPad desirable? Can they get a display that has wow factor and doesn't cost 6 digits? More importantly, do consumers want to use a TV for more than watching broadcast / cable / Netflix style content?
How do they deal with the balkanization of the current delivery model such as cableCards/DRM, various providers who all want a cut of the revenue, many and diverse regulatory requirements? That's a big stumbling block.
Pricing - even if Apple comes out with a really cool product; TVs to a large extent are commodity products. People buy on price, from a whole lot of different retailers. Can apple overcome that? Unlike phones, which have carrier subsidies to bring down the initial costs, TVs don't. Apple has never been in the commodity business and i don't think they want to enter one that is very cut throat.
Licensing - Apple could license a smart TV interface to existing manufacturers, but given their reluctance to license any of their OS's, and their desire to control the entire user experience to ensure it meets their standards, I doubt that would happen.
That said, I think people are focusing too much on the hardware aspect of Apple TV. As I said in another post, Apple TV could be a content play - and with the creation or partnering with a wireless high speed provider (such as a faster Clear) they can bypass the last mile and control not only content but the cost of content delivery. The Apple TV could morph into not just a content delivery system but the gateway to the internet as well. To me, that is a more logical play than building a TV. Ultimately, the iPhone could morph into a VOIP device to tap the same network.
That said, you can never count Apple out of any market they want to enter.