Is there anything this can offer over my dedicated home theater PC?
I suppose the apps but to me that seems like a step backward.
I'm so tired of hearing this comment. What it offers over an HTPC is convenience. It gives you all you really need without the hassles of an HTPC. There's no elaborate setup, no sleeping or waking or rebooting. I actually had to keep my HTPC in a separate cabinet because it got too hot, all the way up to the point where something broke (I think the power supply) and it no longer works. No switching of inputs between watching TV and surfing the internet. No cables to run for IR remotes and wireless keyboards (the lovely Sony remote is RF so you don't have to point it at anything). No separate keyboard and mouse handy for doing configuration or surfing the net. No Media Center exit if you simply want to surf the net. And the integration with cable on the HTPC was lame, can't even watch my premium channels or high def, whereas with Google TV its seamless. Plus there's the awesome search function. And to top it all off, it's cheaper than an HTPC.
If you could see the amount of cables and crap that I pulled out of my cabinet when I bought the Google TV, you wouldn't be asking that question. I loved Media Center, but I don't miss my HTPC one bit.