There should be no reason to purchase another Apple TV because of this.
The problem is a connection failure of one kind or another.
Over the years the various types of failures have grown, but I believe is limited to one of the following:
Not so usual: Corrupt software is causing a connection failure, a restart or restore should help.
Most common: A network issue is stopping the device from connecting to your network time server, restart your network, resolve interference from other devices.
More common than it was: Your ISP is not allowing you to connect to a network time server, you can resolve this by connecting to another service (say a phone hotspot) to perform a set up and then turning back to your ISP service.
Quite rare: There is an issue at Apple's end of things and their servers for whatever reason aren't responding to your device, typically when this occurs, you can't do anything yourself but wait for Apple, when this does occur though, it's usually quite obvious as there will be hundreds of posts complaining about the same thing at the same time.