Dan Moren, over at Six Colors:
One could almost argue, then, that the 64GB version of the Apple TV is the “game console” version, with the 32GB primarily targeted as a “set-top streaming box.” The 64GB version is also for customers who want to not worry about running out of storage or want to feel like they bought the best Apple TV available. And, as with the 16GB model of the iPhone, perhaps the 32GB model is there to stake out the low ground, and convince customers on the fence that it might be worth it to spend the mere $50 to upgrade to 64GB.
He makes two excellent points here. Apple has a history of offering entry-level products of questionable value in order to upsell customers to higher end models, so there’s a distinct possibility that the new Apple TV could be another example of that.
That said, I like his former point better: that the 32GB version is simply the one for people that don’t think of the Apple TV as a gaming device and are not likely to need the extra storage capacity of the higher end model.