PS Vita TV = Good Idea
You hit the $99 price point and auto-magically you have a device that makes for a low barrier to entry as well as an impulse buy. Now most of us in the "know" are smart and realize you'll probably at least need the $150 version that comes with a controller and a memory card but it's all about perception. $99 $99 $99. This hits the roku, apple tv, etc. fun toy price point. Let's be honest too, you think if a apple tv with gaming capabilities came out they wouldn't make you pay for a controller?
It's small, as in really really small. It makes for an easy addition to the living room and can be moved easily from room to room. Heck it might even make for a good travel companion. People like the convenience of a small box.
So why create this thing? It's all about the brand and the infrastructure. Everything is already in place. You already have PS Vita games, PSP games, PS1 games, Minis, and even mobile games in an online store so why not take advantage of it by allowing more people to access it? It's the same model that apple, amazon, google and everyone is after. Come to "OUR" store. OUR ecosystem. That's what this is about. Buy your movies here, rent them, buy some games, get some music unlimited etc etc. Buy from us.
They already have the brand "Playstation". The tech already exists...no R&D. I don't think it coincidence Sony has been working feverishly with the indie community. Put your games on OUR systems. Throw in some apps, netflix, hulu, a little movie player...the same stuff everyone has in their box and you have added value. Sign up for PS Plus, get some free games, look at all the value!
Oh look hardcore audience you can stream your PS4 to this thing! Put one in every room!
I think Sony is ahead of the curve on this one and preparing well for their future. Will it work out? Who knows but it appears competition seems to be lurking around every corner so why not try to reach as many people as possible as soon as you can?