Many things have already been said, so I'll just offer ONE more that might matter: Is there (as little as)
ONE app available for AppleTV that is NOT available to the TV and you like that app? TV apps are usually TV centric. AppleTV has many apps beyond things like Netflix, Disney+, HBO and similar. If there is ONE you really like that isn't available in what is usually a much smaller TV App Store, that might do it by itself.
For me, that app is called
Channels and it works with
HDHomeRun boxes to bring a classic (good) cable/satt TV box experience, sans the box lease costs. Both over the air and cable (via cablecard) are merged into a easy-to-use guide, making AppleTVs attached to the TVs around the house the source of traditional television. It's also a DVR that can be any size DVR I want (just add hard drives) and I can store whatever I've DVR'd for up to forever instead of being on some provider's ticking clock or working within pinched storage allocation (or paying more for storage).
That
ONE app makes AppleTV a daily use device... the primary source for what is watched on TVs in my home.
In #8, HDFan quickly references the great powers of the often overlooked/under-used Computers app, which is very different than the AppleTV+ app available on TVs. For example, I've digitized all of the family home movies accumulated over decades. Through that app, they are available
on demand: nice descriptions, thumbnails, organized by year, etc. Blu Ray and DVD conversions offer movies on demand too. Family photo collection is there. Music collection (and my own playlists) is there too.
The AppleTV+ app for TVs is- IMO- unfortunately named, as many jump to a conclusion that AppleTV+ and AppleTV (hardware) is pretty much the same thing. However, that's like saying Netflix (app) and AppleTV (box) is pretty much the same... or iPhone and any VOIP app is pretty much the same, etc. AppleTV+ is just ONE app that can run on AppleTV hardware. There are so many others that make it do so many other things (including many niceties which can be enjoyed with the TV turned
OFF). Most of them will NOT be available in TV app stores. Find as little as ONE you like and you justify keeping the hardware.
I've got one Mac running Snow Leopard in 2022 for TWO (apps) not able to contribute their goodies on any Mac since. Since it can run Rosetta 1, it's also a link back to a favorite game that never made the jump to Intel Macs. For those 3 apps, I keep and maintain an ancient Mac running an ancient version of macOS. Perhaps there's something on your AppleTV box that you like and is NOT available in the TV App Store?