What does the Netflix set top box mean for the Apple TV?

Netflix has introduced a $100 Apple TV competitor that will offer its users more than 10,000 movies and TV shows with a $8.99/month unlimited subscription plan. Coming in at 5 by 2 inches, this device will offer the same component ports as the Apple TV plus one for S-Video and one for Composite video. It has no hard drive, but rather streams the videos. Netflix chief executive Reed Hastings says, “The key breakthroughs of the Netflix Player are simplicity and cost.” Right now, it’s looking like a pretty serious competitor to the Apple TV if you ask me.