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It's primary reason is to play Vita games directly on your TV, without needing to own a Vita.

Being able to play PS4 games is just a bonus addition, and I'm guessing a feature inherited directly...

Have you all read the Sony announcement for the upcoming Playstation Vita TV?

It's a very small box you plug into your HDTV. It comes with a wireless Dualshock 3 gamepad and a slot for Vita...