Any cord cutting solution will fail for people who want a constant drip feed of content on their TV. It succeeds for people who watch light to moderate amounts of content each night. We watch about <90 mins of content most evenings and absolutely love the AppleTV for our viewing habits. In general I don't want "channels". We use Netflix, Amazon Prime (AirPlay), HBO Now (only when GoT is airing). For the rest I buy session passes to the shows. There is plenty of live news content on the AppleTV, but frankly if I want news, I turn to the Internet. I dont care about live sports. As of right now, I can't think of anything I want to watch that I can't easily access from the device cheaper than if we had cable.
We have been cable free in our house for years. At this point my wife would refuse to connect a cable box even if it were free (This is not an exaggeration. We have had this conversation).
I consider my habits perfectly in line with Apples vision, so it works great for me. However I fully understand that it may fit as well for others.