Was it really a big miss? Or was it intentional? Maybe the reason why Steve Jobs steered Apple away from making a TV was that he foresaw the complete disaster in the TV and cable industry, and saw everything moving online. Even with iTunes, you've been able to buy TV episodes and movies there for at least a decade. And TV viewing is shifting towards online streaming on other devices that Apple has dominated (iPhones, iPads, etc) for several years now. There's already plenty of manufacaturers making large screen televisions, and in the past 10-15 years, that has shifted from CRTs and analog to flat screens and digital. There was no reason for Apple to get into the business of making large screen TVs when all that was going to shift anyways. Apple TV was sufficient to allow those that cared to bring digital content to their big screen TV, but Jobs didn't care much for that medium, so Apple stopped at that.