Apple announces new Apple's TV?

Apple has just pulled a new Apple TV which has no storage, no purchases. It's now a streaming-focused device with an in a small matte black enclosure we're calling "the hockey puck." New Apple TV rents new HD movies for $4.99, TV episode rentals for 99 cents. ABC and Fox to start. Includes Netflix streaming as well.

Steve Jobs explains,

On the back it’s really simple. It’s got the power supply built in. One HDMI connector. And if you have Ethernet, it’s built in, but if you don’t we’ve built in WiFi. You plug in these two cables and it’s on your network, and that’s all you have to worry about.

It’s got a great remote, and it’s really easy. It’s all HD (when the content’s available. We’ve gone to the rental model, there are no purchases anymore. There’s no storage, because it’s all rental. It’s so affordable you can rent something several times for less than buying it. And you can stream from your computer

Good move Apple? No purchases. No storage. Streaming, no syncing. It's all about Rentals?