Can I stream to my computer to watch Netflix? Or, can I only stream from devices to computers? Seems quite limited, if so.
AppleTV doesn't have any capabilities to send streams (ala AirPlay), just receive them from other devices. The reason for this is effectively that the Apple TV doesn't really hold any content. It sources it all from other places, all of which can be accessed from your Mac (i.e. iTunes, Netflix, Hulu, etc.).
In your favorite browser, go to the Netflix Watch Instantly page, sign in, and enjoy.
Its just that simple!