Apple has launched the second generation of its hobby project, the AppleTV, this time is about streaming your favorite shows starting at $.99 cents, a move that has some media executives crying foul for the ultra not lucrative price, but AppleTV real and more important feature is the AirPlay, an over-the-air music and video sharing and sync method that will change the way We consume our media.

But, while I like the new AppleTV and its ultra cheap price, I still believe that the new AppleTV is still a hobby or is a half-baked device that is trying to stay afloat in a crowded marekt among better feature-packed devices, it still holds some chances but rivals are not standing still for Apple to satisfy the market.

Why is the AppleTV a half-baked device? It has a tremendous opportunity to take the market by storm, but Apple is holding back some of the most important features for a later update (or not), dvr features, iOS applications, Facetime and more, features that may help move more and more devices out of the Appledome.

Other thing is that Apple could have let the door open for hackers to enhance some features for the machine, a move that is impossible to believe, but not impossible enough watching how media partners aren’t signing into the new AppleTV price scheme.

What is holding Apple for not to open the whole AppleTV programming environment to programmers, why is not available the VLC application or any .avi player that lets AppleTV owners run play or streaming anything.