I have the first gen AppleTV 4K from something like 2017, and it’s still fast. Like, fast fast. Opening apps are still instantaneous or take just a second. It still runs the newest OS. No ads on home screen (or anywhere on the os, really). Also the touchpad remote everyone hates is actually my fave.
Compared to a Chromecast with Google TV that Google gave me for free a couple years ago for some reason (I think because I had a YouTube red sub for so long), it’s so much nicer. The Chromecast is SLOW as dogshit while it tries to load up all the ads and garbage on the main screen. I don’t HATE it, and it gets the job done, but I use it in my bed room and am never like “wow this is great.” As soon as Apple drops a new revision of the AppleTV I’ll probably buy it and move this older one I have in the living room to the bedroom.