Is the third-generation Apple TV 4K worth it over older models?

Yes for most buyers. The A15 chip makes it noticeably faster than the 2021 model, and it adds HDR10+ support. If you already own the previous 4K model and are happy with its speed, the upgrade matters less.

Does this model have an Ethernet port?

No. This is the Wi-Fi-only version. Apple sells a separate configuration with Gigabit Ethernet and Thread for wired networks.

The Apple TV 4K unit, the Siri Remote and a power cord. A USB-C cable and HDMI cable are not included.

Can it control smart home devices?

Yes. It works as a HomeKit home hub, so you can control compatible accessories and run automations when you are away from home.

Does it support Dolby Atmos?

Yes. It outputs Dolby Atmos to compatible soundbars, receivers and AirPods, and supports spatial audio.

How much storage do I need?

64GB is plenty for streaming apps, since video is streamed rather than downloaded. The larger 128GB option mainly matters for people who install many games and apps.