Its a TV Box. Made by xiaomi. I can run SNES and PS1 emulators on it no problem. Just buy an android compatible controller and youre good to go. You have netflix, youtube, hbo go, thousands of streaming apps and even some piracy movies/series apps if you want to.
It can also serve as a chromecast, but people say its not that good and I never tested it tbh.
If youre into kodi theres a world of things you can do. It runs plex as well, so you can download things from your pc and watch it on your tv with no problems.
Plus, it has steam link. I play MKX on my tv, streaming from my pc just fine. No lag input or anythong.
Tl;dr Its like a Shield TV. But budget version. Way cheaper, but lower specs. If you want to watch movie/series/youtube, play snes/ps1/steam games like a do, it does just fine.
Have in mind that I had to buy a pendrive to expand its memory, since its only 8gb. And 2 controllers. Pretty cheap deal IMO. I spent something like $120 on everything and I have a game/movies media on my tv.