The TV would require a computer built into it which brings up many issues with doing something like that. Each TV company would have their own hardware in the TV set, each competing to do the same thing that game consoles do now (allow game companies to make games and they'd collect the royalties). To have any sort of market penetration, people would have to replace all their LCD and Plasma TV's. Never mind the fact that each company would have many revisions of their own equipment to try and up sell you again.
The likely hood of this ever happening is 0%. We are more then likely going to see a few more generations of consoles. It just makes way more sense. People want easy to use, compact and power efficient equipment (or at least will). The PC is becoming an all in one little box. People aren't as interested in the highest spec machine as just about any PC will run the apps they need to use.
Prepare for termination! It is the only logical thing to do, for I am only loyal to Megatron.
