New Apple TV 4K crashes my internet

I have a very strange situation happening. I purchased a new Apple TV 4K that came today. I hooked it up and went through the setup process, using my iPad to set up the Apple TV. Everything seemed to be going smoothly until the Apple TV began downloading apps. After about 15 seconds, the Apple TV dropped the internet connection and would not reconnect. I tried both the 2.4 GHZ and 5 GZH networks (I have different SSID names for them), but neither would connect.

I unplugged my router for 15 seconds and then plugged it back in. When it rebooted, the Apple TV connected again and started downloading the apps again. But after 30 seconds, it disconnected from the WiFi again. Then I proceeded to notice that all of my other Apple devices (iPhone, iPad, older Apple TV in the bedroom and mini Homepod) were all also no longer connected to the Internet. Both the iPhone and iPad experienced the same issues the Apple TV 4K had - couldn't connect to either WiFi channel.

I subsequently unplugged the Apple TV 4K from power, rebooted the router once again and all my other devices began working perfectly again. So I did a factory reset on the Apple TV 4K and tried once again, but the same exact issue occurred. The ATV 4K dropped the WiFi signal after about 30 seconds and all other devices were also disconnected and unable to reconnect. So I have once again unplugged the new ATV 4K from power and have the rest of my home network working smoothly now.

So clearly something with the ATV 4K is bonking my network. Has anyone ever experienced this? Or do I just have a faulty ATV 4K that is doing this? If it matters, the ATV 4K replaced an older generation ATV that worked fine. I simply wanted to upgrade to 4K after purchasing a 4K TV a few months ago.

Thanks in advance to anyone who comments.