What did Jobs mean when he said he’d ‘cracked’ the TV format?

Apple has been rumored to be working on an Apple branded TV, and Jobs said about this new device that he’d ‘finally cracked it’, presumably meaning that he found a combination of features or new features that would make the killer Apple TV.

So what exactly did he have in mind? Most recent rumors from someone who claims to have seen an early prototype are that it’s a large flatscreen, with the Apple TV box integrated, a camera to support FaceTime, and Siri technology built in.

That doesn’t sound like a combination that would lead Jobs to say he’d ‘cracked’ it. Cracked what exactly? There must be more to it than just the combination of these components, because at face value that’s not exciting or revolutionary.

If I were to be interested in this product, it’s going to need to project a 3d hologram into the center of my living room. If Steve cracked that, then I’m buying.