To me this Vita TV is an acknowledgment that there is a market for cheap console that neither the ps4 or XB1 will be able to address anytime soon. It is a market interested in both social/casual games and core games.
I think it is another showcase for the console limitation and how software is written, Sony is stuck to the PSV hardware whereas I suspect you can now have the perfs for cheaper or better perfs (and then there is the amount of RAM).
It reinforces my belief that some serious actors are to enter the show hence Sony proactive (that is a good thing) attitude on that front.
I just dont get the use case for this thing at all.
It will basically allow you to play Vita games with worse than current gen (noticeably, really) graphics on your TV. Ok?
For me you suffer (relatively) bad graphics and a small screen on a handheld because you have no other choice, EG you spend a lot of time on a bus or a train. If you have a choice, then you play a console on a TV as it's much superior.
I am sure some people will like this but I really cant see it making waves. Especially given Vita itself sells poorly.