In my household we have two Apple TVs sitting next to each other, and two remotes with the names of my partner and mine on them as most apps don't properly support profiles so that's the easiest solution. If they do that so people buy more devices...it's definitely working.
It’s the vendors not supporting platform features. Usually, actively avoiding it because they think it’d dilute their brand or some shit.
I solved this by just pirating everything and putting it in Jellyfin with Infuse on my AppleTV. Managing profiles and parental controls (and god forbid you also want actual curation) is just totally broken if you pay money for the content, but if you pirate it, it works. Go figure. Dropped from like seven or eight streaming services at peak to I think two. It’s not worth it for the savings, though that’s a nice bonus (it all ends up in hard drives or electricity anyway, though) but it’s the only way to get sane UX. Friggin’ irritating.
I also ended up doing this. With HDMI-CEC powering up the TV and the receiver automatically, then switching to the correct input on any AppleTV remote button press, this is actually a really friction free option if you can stomach buying two devices for the same purpose. I put the remotes in different colored rubber cases (red and blue) to make clear which device is being operated.
At one stage I even had a third AppleTV, that was hooked permanently to a VPN exiting in a foreign country, so I could get TV content and applications restricted to another region I watch a lot of content in. It was so nice to just pick up a remote and instantly have the foreign appleTV experience, rather than juggle VPN apps and foreign Apple Store accounts on the same device.