That said, the new home screen already feels a bit crowded, and if Apple does eventually allow additional content sources or apps, it's only going to get more cramped. The company will eventually have to let users manage those sources and apps--which ones appear, which are hidden, and how they're arranged--the way Roku did when it introduced channels to its media players. Otherwise, you'll end up navigating endless screens of icons. (Wait, this is starting to sound familiar...)
Movies in the cloud, account setup improvements
One new addition to the Movies menu is a Purchased option. This option debuted on Wednesday for both Apple TV 5.0 and 4.4.4, and it provides quick access to a list of movies you've purchased, letting you stream previously purchased movies directly over the Internet, rather than requiring you to stream those movies from a computer on your local network running iTunes. You can also now purchase movies directly from your Apple TV. (These features have been around for TV shows and music for a while.) One hitch here is that movies from Fox and Universal aren't currently eligible.
Another new feature relating to online accounts is that you can now sign up for an account for some third-party content providers--such as Netflix--directly from the Apple TV, and pay for those subscriptions using your Apple ID (iTunes account). For those setting up a new account for use primarily with the Apple TV, this is likely more convenient than having to use your computer and the provider's own setup and billing system.
Going through the Apple TV Software Update with a fine-toothed comb, there are a few other changes and improvements that aren't immediately obvious. Here's a quick list: