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They need a new version of the Chromecast Ultra. I was in the market for a streaming device, recently, but passed right by the current, 3-year-old version.
Why do they need a new one? All it needs to do is cast your android device to your TV. I dont think that requires a hardware overhaul. Plus i don't think they will decide to release an android tv device since nexus player was a failure and Nvidia Shield and Mi Box are the only successful aTV products.
 
Why do they need a new one? All it needs to do is cast your android device to your TV.
AV standards, codecs, etc. have been changing quite a bit, lately. It predates HDMI 2.1 and I don't know if the current one supports VP9. It's certainly lacking VP1 support.

Also, ARM CPU cores have continued improving at a brisk pace. The speed of its CPU cores affects how well it runs apps - plenty of which are available to run directly on the device.

Finally, I'm not a fan of their design approach of this bulky thing with a short, tethered cable. I don't want it dangling from the back of my A/V receiver, though I'd imagine I can probably get an extension cable for it.