Subjective - value proposition will very from individual to individual. From a strict price comparison, my cable company wants $30/mo. for HBO if not bundling it with other premiums.
And buying a dedicated TV internet box is for people who can't figure out how to hook a computer to their entertainment system or don't realize its a much better way to go about it.
Or has different needs. In my case, I have a dedicated home media server hooked up to one TV, but Apple TV units in two other rooms to leverage off the same storage system. Does that make me someone "who can't figure out how to hook a computer to their entertainment system"?
Plus, the Apple TV also has the AirPlay feature which allows me to directly stream anything off my phone directly to that TV. It's more than just a dumb box for dumb users.
Netflix gives people what they want. That is how capitalism works.
Wow that IS really special. Of course I do that with my smart phone and my wifi/bluetooth system and I didn't need Apple to show me how.