No, at least not the first generation Ouya. Their annual upgrade model doesn't sit well with me either, the price of an Ouya is a substantial % of the amount I spend on games in a year. And having to buy one annually will work out to be about the same expenditure on hardware as the normal 5-6 yearly console purchase, more if you generally buy a console mid-late cycle.
Edit: not to mention I hate the thought of all that annual upgrade e-waste, if they have a recycling programme for the old Ouya's I'd be less uneasy about that aspect environmentally speaking.
Ouya also made a mistake by going for Android. Why didn't they go pure Linux? Perhaps Google is backing them a bit?
So Ouya's long term success will be about whether the backers are undeterred by poor sales in the first, second and even third generation. If they have a 5-10 year plan to profitability and good sales they will be able to refine their model and deliver a product to which consumers will respond. If they expect good sales and profitability inside 1 or 2 years then I think they'll fail and shut up shop just like Onlive has done.
“The fundamental cause of the trouble is that in the modern world the stupid are cocksure while the intelligent are full of doubt.” - Bertrand Russell
"When the power of love overcomes the love of power, the world will know peace."
Jimi Hendrix