Nope... TONS of people use it for media center stuff. why do you think the HTPC market is pretty huge and is growing right now?
If it's Media Center and HTPC you want you can still get that, it's just something you'll have to install after the fact now instead of everyone having it installed by default even if they don't use it and having to pay for it regardless. I thought people around this forum hated bloatware? In that case them making something like Media Center optional for the niche that use it is best. Also I think they're probably going to slowly get off of Windows Media Player in favor of the new metro apps and whatever the new "zune" client software turns out to be for the rebranded service later this year.