I got a Amazon FireTV Stick for my MiL. It seems like a nice device. The interface is really decent, though it pushes Amazon Videos harder than the AppleTV pushes iTunes I feel like. Netflix and Hulu on the latest AppleTV feel "first class" for example. Same number of steps as getting to iTunes content (or one extra if you have multiple Netflix profiles). And the search is universal. Whereas on FireTV the Netflix App is kinda off in a corner and most of the content you're presented on startup is inaccessible if you don't have a Prime account.
Anyways, hardware wise, the latest AppleTV feels more powerful/capable than most devices on that list. Not sure about the PS3 or 360 or original Wii since I didn't really use them as media devices, but it's definitely much more powerful than the WiiU (I've tried Netflix and Hulu on it for the kids and it's nowhere near as snappy or responsive).
Anyways, yes, the PS4 (I don't have an XBone yet) does most of what the latest AppleTV does. But it's less focused and more cumbersome. No voice search for example. The apps seem a bit slower. (Except for Youtube, which is far better than the crippled version made for TvOS.)
Not sure where I'm going with all this except to say the latest AppleTV has it's own strengths/weaknesses and is more of a media-device++ than a Console--.
My own pro/cons would be:
Pro: Boots way faster than the previous version. Just a few seconds. Con: Needs to be rebooted every other day or so when apps can no longer play video for unknown reasons.
Pro: Board games on the AppleTV with a young family are awesome. Con: Not enough of them.
Pro: Plenty of age-appropriate games for children. Crossy Road is one of the few games my 3yo and 7yo can really play well together, and the TV experience is great. Con: Not enough more in-depth games. Where's Kingdom Rush?!?
Con: The on-screen Keyboard is the worst ever designed in the history of on-screen keyboards. W.T.F. Apple. Seriously. Especially painful in Youtube since you can't voice-search there.
Pro: The optional Controller is great. Con: It's not used to it's fullest since most buttons map to things that'll kick you out of the current app.
I totally get not making the 3rd party controller required. But it's a rough compromise to be limited to NES level controls.