No. There are some video files the Apple TV cannot play natively. In order to play those files you have to convert them into an Apple TV friendly format. This article outlines the various audio and video formats that Apple TV understands natively. To play those files you would have to convert them first.
Note that you don't need the software being pushed by that article. There is free software out there that can make the conversion for you including Handbrake and several of the programs available in the App Store.
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