Apple bulls simply want to brush this reality off. We're going on a year since I wrote those words. A year and 12,000 Gene Munster predictions of an Apple TV later. And nothing. Why? Because, as I said, Cook has no idea how to move forward. And, as Kedrosky says, something somewhere went wrong.

Here's what went wrong. TheStreet was writing about it in May of 2012: The content providers did not cooperate with Apple. It's difficult not having Steve Jobs at the table for negotiations with New York and Hollywood. It's not quite the same Apple when you don't have a legend who operates and adapts like Jobs. It's even worse when you need an industry way more than it needs you.

But, again, stop and just think about this ... it bears repeating. Jobs had the living room figured out. Then, all of a sudden, the company line from Apple morphs into the living room remains an area of interest. Please. We might be dumb, but we're not stupid.

On opening day of this week's Worldwide Developers Conference, Tim Cook tells us that some people think innovation only means new product categories. Not so. Cook brings the type of rhetoric we see in comments' sections of these articles. He basically builds a straw man that Phil Schiller walks in and embarrassingly tears down.

Nobody ever said innovation is relegated to new products. Not at all. Never. It's just that anybody with a clue recognizes that the innovation that matters at Apple happens within new product categories. Not evolutionary refreshes and such.

The game changers have always been the most meaningful drivers of everything: the stock price, revenue, profits, margins. Cook can operate under the fallacy that Apple is a software company and waste his time dissing Steve Jobs's design preferences and poorly copying Pandora ( P). It's all part of the sideshow he disguises as not asking what Steve would do, just doing what's right.

For goodness sake, Apple must really think we're all complete morons. Schiller curses at us about innovation as he unveils a product that's still in development. That's all he's got? It appears more and more likely that Apple will not release a product of grand significance anytime soon, if ever.

Don't ignore the writing on the wall. Read it. And, if you're angry, direct that emotion to the proper place: Apple, Inc., 1 Infinite Loop, Cupertino, CA 95014.

-- Written by Rocco Pendola in Santa Monica, Calif.
Rocco Pendola is TheStreet's Director of Social Media. Pendola's daily contributions to TheStreet frequently appear on CNBC and at various top online properties, such as Forbes.

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