If it was open then none of us would have any issues.... but sadly it's not, infact they are trying everything in their power to even stop the ability to make custom roms

The Raspberry Pi uses 2.5w, can be powered by the USB on the TV, and can read those files, but that is completely open and optimized for it with a fantastic GPU for HD decoding. I would love for these devices to be fixed, but it's not happening. If it amazingly does happen will you still own this device by then? probably not.
The dev community for this is paper thin, and it will only get smaller due to fragmentation of devices. You won't even to be able to use Netflix on 4.2.2 anytime soon due to the sticks failing DRM checks.
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