If it wasn't for the fact that you can easily install a Android TV ROM on this I wouldn't of thought this was a great deal.
Android TV Mad Catz M.O.J.O: http://forum.xda-developers.com/mad-catz-mojo/development/rom-android-tv-mad-catz-m-o-j-o-t3003219
Because 'you' can easily install 3rd party ROMs on this device by simply side-loading a apk to unlock the device, this makes this a great deal for people that like to tinker.
They even encourage it:
"Ready to Root
As any Android power-user knows, the best way to get the most out of your device is to root it. Rooting opens up all sorts of options including expanded access to Google Play and the ability to install custom ROMs. Mad Catz provides a short step-by-step guide to rooting, and our tech support team is ready to help. The best part – rooting won't void your warranty."
It is using the Tegra 4 SOC making this a very powerful system. It can easily run HL2/Portal and high-end (Android) games. It also has 2GB of RAM, 16 GB of internal storage and a micro SD card slot that lets you expand the memory to 128 GB. It even has a USB 3.0 Port for fast access to external HDs.
Half-Life 2 Tegra 4 Frame-Rate Tests: https://youtu.be/aPyrpBpC3QM
Its hackability is what makes this device shine.
Spec wise, the Chinese Android TV boxes can't come close to this for its price.
As is, it is a fairly high-end Android TV box running Android 4.2.2 (poor mans NVIDIA SHIELD TV), price wise it is still pretty good even if it wasn't hackable. You would be looking at £20+ just for the game controller.