Home Sharing covers some of it, but the limitations of requiring everything physically on the same network and logged into the same Apple ID sound way more stringent.
Even for a family for instance, it means they'd all have to share the same ID, which would be a royal PITA, especially if you're setting parental controls for the kids.
You can have multiple people in your family share different things from their devices. When I go to home sharing in the TV.app, I see both my computer and my spouse's.
