> Apple TV lets you do the same thing with AirPlay, and it works great.

With Apple-devices only. The majority of the market has non-Apple devices. And that's across a range of product-classes: Desktops, Laptops and mobile devices.

To be able to take advantage of AirPlay you need to be all in all across all those classes. That brings the effective market-share which can use AirPlay (in developed countries) down from around 20% to much less than 5%. In less developed countries, AirPlay is dead code.

This will be a device people can actually use. Do you seriously not consider that a factor in being disruptive?