No. Two problems with the Xbox, first the interface is horribly difficult to use, and second who wants to pay $50 a year on top of Netflix just to access the their app? Currently we own an Xbox with Connect, AppleTV, and Roku 3. AppleTV has the best remote and interface, Roku 3 the best content and search outside the Apple store, and Xbox does an OK job at playing games.

NO, to answer your question. The new Xbox doesn't do the most important thing that iTV was/is supposed to do and it's an expensive gaming system not a TV solution.

A lot of devices are getting better at streaming Netflix/Amazon/Hulu etc. If anything a full console is less necessary to stream Netflix than ever.
I assume if it has a real tuner built in it supports DVR? That is really the only thing I can think of that nobody else is doing well. Currently nobody seems to have a device on the market that does both IP and DVR well.
As for UI I think a touch screen/tablet remote is probably better than waving your arms around or trying to get Kinect to understand you. There is nothing wrong with having Kinect support it but I don't think it would work well as a primary interface. Using the game controller itself for the remote is also pretty annoying. Maybe they sell a touch screen remote with the tuner as a package deal?
Who knows. I know a couple people with Wii U that said they love it as a netflix streamer because of the touch screen and that seems like the best solution to remotes that are starting to look like cockpits of a 747.
I would be surprised if the Apple TV remote wasn't a touch screen device. I also think there is potentially still a market for an Apple TV because their core customer base tends to fall almost completely outside of the "gamer" crowd anyway. Apple seems to actively discourage "gamer" types by doing things like shipping "new" $2500 Power Macs with a 5 year old (also discontinued) GPU.
I am not saying they are wrong though, their strategy of shunning that crowd seems pretty successful for them.

All of you are wrong.
Why have a Xbox One and a Apple TV? You can't play hardcore AAA games on a Apple TV.
It will not be called iTV, that is taken by a UK company.

Samsung Smart TV anyone?
http://www.samsung.com/us/2013-smart-tv/

Xbox Glass allows you to use any touch device to control your Xbox if can't handle using your arms to control the interface.

Unless there is something completely revolutionary with the apple TV or you have absolutely no desire to game, it doesn't seem like there is a need for both. It looks like everything iTV would do Xbox will too except be integrated into one device....

@LordInsidious
>Unless there is something completely revolutionary with the apple TV or you have absolutely no desire to game
What about if you don't want to pay for Xbox live gold just to be able to stream Netflix? Besides, there are plenty of people who don't play console games and even people that do but have TVs in multiple rooms.

Apart from the HDMI overlay tech, the XBox One is just playing catchup to where the PS3 has already been for years. PS3 also has a better UI.
Also, the PS3 won't make you put batteries into the controller like it's still the 1990's.

A lot of people would rather talk or use motion to give instructions rather than a mouse, keyboard or even touch. That's why automobile controls are moving in that direction. Pedals, steering wheels rearview mirrors, all of that is fast becoming obsolete. Many of the commentators seem to think that their reality will stop evolution, I am sure the Neanderthals felt the same way and it didn't help them. It may be that some people are incapable of moving forward, doomed to live in dreams of the horse & buggy.