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Statistically speaking, 50k people should be enough to overcome many biases in the data, I think? While not a huge % of the whole, its still a large population. I'm not sure how the Nielsen ratings work, but if the 50k boxes are distributed in some kind of random sample then the numbers when extrapolated should be relatively accurate. Surely not a perfect system, but what is there that could be better?
To have all new TVs coming out monitor (if its even possible) what shows you watch without any volunteer program could likely be considered an invasion of privacy.
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"Convictions are more dangerous enemies of truth then lies." - Nietzsche
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