Sorry, I wasn't clear (so I updated it a bit) - this isn't the first streaming of the iTunes festival, but that's not the point. The point is that they are continuously showing their ability to do this, and that (if an Apple TV ships), people will look back and see these events as Apple's first, potentially experimental, attempt at a "channel."
I don't get the hype here. You just need some powerful servers (which Apple obviously has otherwise Siri wouldn't work), a few cameras and you need to give access to all iTunes accounts - the most difficult thing is iTunes, though even that shouldn't be a problem for Apple.
