These products exist to some extent, but they don't seem very successful. The "elderly" today could be people who may have been using smartphones for 20 years, and wrote the foundational parts of all the software we use today. Soon enough you will be more likely to find someone who can debug a C program in a retirement community than an MIT classroom.
It is not only about understanding what the stupid TV asks for.
My mom (94 this year) has an iPad since more than ten years (she uses it for basic things, news, e-mail, facebook) and a smartphone (again using it only for basic things, like, you know, making phone calls) and never had any (major) problems with them.
Last december we had to change her TV (here in Italy they are switching to a new HD broadcasting standard that her - only a few years old BTW - set is not compatible with) and all suitable TV's I could find were "smart" (there are a few requisites like having an audio output - 3.5 mm jack - to connect her hearing aids repeaters).
Even setting it with "no connection" (there isn't even the Wi-Fi at her house) and turning off all "smart" or "advanced" features, the stupid tv from time to time likes to randomly display a prompt for this or that action needed, but (due to relatively poor vision) she cannot read them unless she stands up and gets nearer.
