Microsoft want to be part of the living room, not as a toy but as a center. They are making ballsy decision that might alienate the current fanbase for a chance of that success.
What is the living room question, or problem, that MS is answering with this reveal today?
Personally, I know microsoft is in no position to reorganize your living room based on their expertise. They aren't trend setters. Even if Apple released this identical product, people would have the same lukewarm response.
The TV solutions microsoft is answering, are already answered, streamlined, and used by children at this point its so damned simple. There is no physical hub anymore, people are connected to their computer/entertainment lifestyles, and enjoy them wherever they arrive.
Living room skyping..? I mean.. who was needing the features MS announced today, as feasible, current, products don't allow you to easily to any of it.
edit;
and we all know its going to come with a fee. On top of the fees you're already paying for in your streamlined life. 500 dollars to do this, or 400 does not seem worth it.