Is Xbox One a threat to (the future of) Apple TV?

I was just thinking about this and wondered your thoughts...

Could Xbox One be a pre-emptive strike against what the Apple TV could become in the near future if Apple does release say, a TV or a more powerful, app-enabled set-top box?

Their focus on television, apps and entertainment beyond games was not unexpected - but I'm wondering if it will be fluid, useable and beautiful enough to compete with what could be to come from Apple. Would it be a potential competitor to even the current Apple TV?

These questions are a bit useless since, yes, we don't have a new Apple TV yet - but hey, it's still fun to wonder. Lots of thoughts on this - but I want to know yours!