Ok, here it is with a chin job.
I don't know if cable can be altogether killed. How do you download the 6 o'clock news or SNL (live)? All I know is, if Apple let me ditch my fugly cable box, and my Blu-Ray player, I'd be all over it.
Yes, it is essentially an ATV w/screen, and KB, and better remote, and non-hacked Safari. And cable. And DVR. And DVD/Blu-Ray.