I think the article screwed up here.
From the article:
"Party Play allows four friends to connect via BlueTooth controllers to an iPad, enabling local splitscreen multiplayer. Take your iPad out to your flatscreen TV with a HDMI adaptor and bingo, the Apple microconsole has arrived."
So the iPad is the microconsole, and you can ALREADY DO THIS.
The iPad can mirror anything to a TV using HDMI, and the iPad can already do MFi controllers, so there is NOTHING NEW HERE.