I looked into this briefly. Many TVs run Linux under the hood, and can be flashed, as the firmware is available because of the GPL. (Sometimes. Vizio had to be sued into doing so iirc.) so "all" that has to be done is to repackage and rewrite some firmware, reflash the TV to only ever use HDMI1, and Bob's your uncle.
The problem (aside from the fact that redoing the firmware isn't trivial - but that's the fun part) is that TVs are big and bulky, and come in multiple sizes and resolutions. And then shipping them around the country gets expensive, limiting reach, and then that means that taking returns also becomes difficult too. Especially because you'd be reboxing existing televisions to begin with. But maybe you could open up a storefront to sell these from and serve a local area first.
Anyway, this is more a comment on the issues with this as bother me, and not an indightment of the whole idea. Someone else with a lot more capital to bootstrap could pull it off - assuming there really is enough of a market for such a product. It might be like the support for a small phone contingent or light truck. There's a vocal crowd that does exist, but they don't exist in great enough quantity relative to the rest of the market, leading to not enough sales to support a business built on that singular premise.
The other issue is HDCP. If the Apple/Google TV won't play high res content to your modified firmware,
the idea's dead in the water without an additional device like from hdfury, but at that point, how many customers are just going to put up with a "smart" tv?