"TV sticks" of this form factor have been all the rage on AliExpress, DealExtreme, and the like, although their popularity seems to have waned somewhat compared set-top-boxes (I read somewhere that it was due to trouble managing heat while customers demanded more powerful processors, but I don't know). See http://www.google.com/cse?q=tv+stick&sa=&cx=partner-pub-8120... and http://liliputing.com/?s=tv+stick

They've mostly run on ARM and Android, with some hobbyists loading more traditional Linux distros on. Probably the most notable exception that I know of is the following: http://liliputing.com/2014/12/100-bay-trail-pc-stick-can-run...

If this is priced well it will be interesting to see how it impacts that landscape.