All the watts that go into the Genie end up as heat. Physicists call this the Law of Conservation of Energy.
if ALL the watts were dissipated as heat then the genie would get no power. you are mixing up various different laws. at best the Genie is probably 80% efficient so 20% of the power that is input to it from the brick is dispersed as heat. more than likely it is somewhere around 50%. power supplies are where the most heat waste occurs, followed by amplifier circuits and motors/moving parts such as hdd.