In short: I think they should open it up and evolve it into an airplay competitor.
When you stream a song form itunes in the cloud to airplay it from an iphone to an apple TV, you actually stream the song to your phone, then upload it to your wifi router, which then sends it to the TV. In its current form, Nexus Q skips the step where your phone downloads then uploads the file at the same time. I think this is fundamentally better from a technical standpoint.
Just about everything worth sharing on an android device is in the cloud, be it on youtube, netflix, amazon or google music, I’ve never sent photos to a TV, and if your on-device video is worth sharing, its worth putting on youtube. If you have huge amounts of movies and TV on your tablet, its probably not there legally anyway. This system could even work to stream a google docs presentation using your phone to send commands through the cloud.
Requiring a network connection isn’t as restrictive as you might think, DLNA and Airplay both require that both devices be connected to the same network, requiring that that network also be connected to the internet is not a big stretch, and it might not even be necessary to have the controlling device be on the same network since this is all being done in the cloud anyway.
It wouldn’t be easy, but I think google can come up with an acceptable standard for streaming audio and video to ‘made for android’ docks and boxes. I think devices that do audio only should be called google Radios and that video devices ought to be the new google TV.
In its current form, Nexus Q works with gingerbread or higher, which is the better part of half a billion devices. The market is huge, the potential is there. Would you buy a google Radio/TV?