Australian Review: PlayStation TV – Where’s the magic?
If you want to play Vita games, get a PlayStation Vita. A Vita is only about AUD$70 more than the PlayStation TV's AUD$150 asking price. If you're factoring in the cost of a PlayStation 4 controller, the Vita is actually the cheaper option.
On the other hand, if you want to extend your PlayStation 4 to another TV, the PlayStation TV does a great job. It's a niche accessory, but at the least, you won't need to lug your PlayStation 4 from room to room when someone else wants to use the TV.