The Nexus Player's hardware is now outdated, so I can see Google putting out a new Android TV box simply as a reference device. Hopefully, though, this will be more than that, a real effort to make a high-quality device that will grab some market share. A Pixel Player, not a Nexus Player 2. Hopefully, at a minimum, it can do UHD with Dolby Vision, like the Chromecast Ultra.
Fingers crossed we get our first look at it this afternoon at I/O