Well, it's evolved into an "entertainment center".
If you believe in the Black Box theory (that essentially all your needs will someday be satisfied by one machine), you'd be hard pressed not to consider the Xbox One as evidence supporting that theory. For one, the Xbox One is literally a black box. Besides the obvious video game capability, it offers users just about any form of entertainment they can think of. My wife and I spend most of our time watching Netflix or Vudu, but we can also Skype, listen to streaming music, send email, rent or buy movies and open documents or pictures. It's an unbelievable device that I spend way too much time on.
However, I think what's keeping the Black Box theory from coming to fruition is the fact that consumers have unique preferences, while technology will always have trade-offs. The Playstation still outsells the Xbox by a significant margin because gamers don't want compromises made on their gaming system. In other words, gamers are concerned about gaming. They want the best processing power and capibiliity possible. They want the best graphics on the market. And if any of those features are watered down because of the producer's desire to make the system a full-fledged entertainment center, then gamers might opt for the competition.
Another example of this is the "phablet" market and the 2-in-1 market. There are those of us (such as myself) who prefer to not be carrying around a billion devices from day-to-day, so it's convenient and efficient to merge multiple devices. Whether it's a phone doubling as a tablet, or a tablet doubling as a laptop, there is a loyal, niche market for products such as these (I love my Surface Pro). However, I think most people still prefer to own devices that specialize in one thing, rather than be "pretty good" at being two things.
I think this is where Jenkins has a point that "hardware will diverge while the content converges", and that "your needs are different depending on where you are at". While I'm capable of checking my Facebook on my Xbox, phone or computer, it's more likely than not that I use a phone while I'm sitting down at a restaurant. The other two options are just not practical in that situation. Every device has a unique purpose that can't be easily replicated by the other.
Questions: Do you feel overwhelmed with multiple devices, or do you believe there's a need for each one? Do you agree or disagree with the Black Box theory?