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But not in Europe. And not in a lot of other places where online movie rental, cable tv networks etc. doesn't have the same market share.
So it's fine for at least the North American market. But there's a whooole world out there, outside of the U.S. ;)
I know several who would love an aTV. Not one of them will buy one without PVR.
PVR is one small thing that could transform the aTV from more or less just a useless media extender on the same terms as most other media extenders (cause in Europe it's basically just an iTunes extender), to a really well designed, high WAF, well integrated PVR+media extender.
Not many care about the movie rental bit. It's useless to a very large amount of people.
But most people want to sometimes record a show of some kind.
And content acquisition or not, the thing that SO tie the Apple products together, apart from design and a great UI, is media.
Media media media media.
Might as well add that little part that makes a whole lot of difference.