Re: What could Apple bring to the table?
If I knew what Apple could bring to the table, my bank account would have a much larger balance in it than it does.
What I can do is outline some of the problems with TVs at the moment that need to be solved.
The main problem is the vast collection of remote controls and their associated buttons that you need to control the TV and all the other stuff attached to it. Apple would definitely sort that out by reducing the number of buttons you have to chose between to get the thing to do what you want.
The second big problem is the confusing array of different user interfaces you have to deal with, depending on where you are. Apple would make that much more consistent.
In terms of features, I would expect an Apple TV to have fewer features than other TVs, but this may not be a bad thing if you can actually use the features it does have.