Android TV is a Google operating system for televisions. In purchasing an Android TV-based device (like this), you do not lose any of the functionality that you'd expect from a normal (non-smart) TV. On the contrary, this TV has everything you'd hope for AND a smart user interface that allows you to easily pair streaming services (I.e. Netflix, Prime) and control the TV via your smart phone.
I was concerned that my Apple devices would be incompatible with Android TV, but was pleasantly surprised to find it perfectly compatible.