The Nexus Q
is designed to allow video to stream from phones to TVs, so you can share something you're watching on your phone. The YouTube app coming to PS3 today allows you to use your phone as a remote to view YouTube content on your PS3.
It's kind of the same thing! Not really, but functionally, you're using your phone to play video on your TV. How kind of Google to provide that functionality without the purchase of some kind of weird future sphere.