Are crappy cable boxes and TVs the standard Apple wants to be compared with?
Roku, Fire TV and Google TV, and of course ATV3 all have remote apps with keyboard entry for good reasons. Compared to them, the ATV4 has done nothing to alleviate the occasional need to input text. As long as Apple asks us to input passwords when buying apps, enabling homesharing, activating iTunes Match/Apple Music, setting parental controls etc. (while of course at the same time urging us to use long and complex iCloud passwords), they don't have a leg to stand on and should provide a convenient way to enter them. So I guess by your definition, the ATV is still "poorly thought out".