Today it'd depend on which developers they could get behind them and what games it would be.
It would be nice to have a console which would work as well as the others but also allow creativity. There are Keyboards out for the PS2 and the Xbox as peripherals. HDs and HD installable stuff is common for these 2 consoles as well. Same goes for networking. A console with the games power of the other consoles but with already built in keyboard and ability to do more than just play games would definately be a win situation I'd think.
The keyboard portion would have to be better designed though. Something which could be sort of "ejected" out of the console. If you think of the PS2 for example. It looks fairly sleek when just standing there. The keyboard doesn't make it fit that well in with living rooms. But if they could make an ejectable keyboard like they have the CD drives so it's easily concealed it would blend in almost everywhere. If it was to be used as a pure console it would be simple. If it was meant to be used for tasks such as e-mail and development it would more likely be placed on a better surface for typing on.
Actually, a console with a keyboard, ability to go online and recieve e-mail and browse and download demos (without the hassle of having to browse with a joypad or buy an expensive keyboard peripheral) could go and abolish a deal of people's need for a computer at home. Have a printer option for it and you'd have a console that does what a lot of people use their PC for, cheaper than a PC and takes up less space.
I've seen how the PS2 internet thing works. I'm not really impressed. Sure it looks nice but even though it is the internet you can't access HTML stuff and the content on the pages you can view take eternity to load.
On a side note. The PS2 almost shipped with it's own simple development kit in the EU because Sony wanted to get the PS2 classified as a computer and not a console. The reason for this was to avoid an import tax set by the european unions on game consoles. By saying it would be shipped with a developer kit they tried convincing them that it was indeed a computer...alas when they were turned down for this they dropped the idea of the SDK. Had they had the kit with the thing I'd have gotten a PS2 much sooner.
Of course without games support the console would never fly. Capabilities or no.