Lots of merchandise products. Half of their revenue comes from that.

Because everyone assumes it is a device for playing Smartphone-Android-games: That's not interesting. I don't even know if they support the normal android marketplace. But they already have secured games specifically made for the platform (Ouya, not Android). So the people saying PS3 had the advantage of actual games are wrong, Ouya has also some launch-games. So far 481 games are confirmed based on Wikipedia. Surely, most of it small projects, but that is no 'no games'. Even Square-Enix and NamcoBandai show some support.

Looks like it has it's own store.

The total number of smartphones according to this source is around 1 Billion. Take into consideration that 3rd and to a probably pretty high degree 2nd-world countries will not be represented in these numbers (too poor to be able to afford a smartphone) -> Most people already have a smartphone at their disposal. All smartphones support bluetooth and all (at least most) smartphones can be connected to the TV, either via HDMI, USB or an USB to HDMI adapter. What is the Ouya good for?

I remember when people thought this was going to be in direct competition with the big 3. Good times.

You get what you payed for. How high were people's expectations for a $99 console? Did they really expect it to come close to a 360 or PS3?

That's what I heard before. Looks like it is not an android-gaming-device to begin with. Yes, it uses the Android-OS, but not the typical Android-games.

Some people in here are just lucky that nobody will report them for trolling their favorite console

Not sure if the numbers include microtransactions and/or ad clicks, but I'd guess that's how most mobile games stay profitable.

This is way too early for a review. The product is basically only available to the people who helped fund their Kickstarter campaign and should really be considered to be in beta. At least wait until the final retail product is out before slating it!