I really like my 4th generation Apple TV for the most part. The only thing I don't like is how iTunes TV shows app never seems to update and I have to forcibly quit out of it or occasionally even reboot just to see the latest episode of whatever it is I'm trying to watch. We don't really use it extensively, although having the PBS Kids app is a godsend, given that we kind of live out in the boonies and don't get a good signal. And paying for cable is right out. It's a good device for us simply because we only watch like The Walking Dead, Better Call Saul and Game of Thrones, and it's much cheaper to just buy a season pass/pay for HBO on demand for 2 months rather than pay for cable.
It would be nice to see a better on-screen keyboard, but between the microphone on the remote app and our phones, it's easy enough to get by without having to contend with the crappy alphabet strip, for the most part.
I'm disappointed in it insofar as it feels like it should be able to do so much more. I'd at least like to be able to keep the TV on most all the time and have the screensaver be like a dashboard with all of upcoming appointments, notifications from apps on the AppleTV and my phone, calendar events, etc. I'm sure there's probably some sort of app out there that'll do something like that, but for the most part, AppleTV's app library is pretty lousy. I did manage to get one of my games up there though. The app selection is so lousy that I'm the #2 search result for the word kitten, haha. It's just too bad that getting any advertising in an AppleTV game is borderline impossible unless you develop it from scratch from xcode.