[supergnu]

I mean, that is already happening. Almost all modern TV's do some signal processing before outputting the pixels, and the image looks slightly different on each model.

But it'd definitely be cool to have some latent representation of a video that then gets rendered on tv - you could apply latent style sheets to the content, like what actors you want to play the roles, or turn everything into a steam-punk anime on the fly. The more abstract the representation, the more interesting alterations you could apply