Apple TV - no apps, games, or web

The new Apple TV is running on an Apple A4 chip, just like iPhone and iPad, and almost certainly running iOS, so where are the apps, games, and web browser?

We got Netflix, but it was built in just like YouTube. We got iOS under the covers but no iOS-style UI. We got AirPlay, so we can stream from iPhone or iPad, and presumably there'll be an Apple Remote app to control Apple TV via iPhone or iPad...

... but I kinda wanted more.

Apple TV wins on ease of use, but for power and flexibility one of those new Mac Minis and the excellent Windows 7 Media Center are the nuclear option, and many also cheap boxes like Roku, Boxee, etc. arguably have more bang for the buck.

Could Apple have an Apple TV SDK in the wings, something to announce for developers at a late date? Or is it the most closed of the already closed iOS boxes?

I have to believe gaming on Apple TV is a gold mine, so my bet is we see apps... eventually. What's yours?