The comparisons between steambox v1 and gabecube aren't apples to apples.
When the first steambox launches, Xbox was DAO and PS4 owned the market. Say what you want about sony but the cheap, discreet little box of the PS4 had quality exclusives on it.
Fast forward to today or 2026, and Xbox is dead, their next console will cost $1499 - according to Sarah Bond, and Sony are pushing their exclusives games on to PC while expecting you to pay for hardware that they bump the price up on every year, with dwindling games or reasons to play.
Nintendo are always Nintendo and will always be Nintendo and the big 3 are now Big1 ; Nintendo and 2 minnows squabbling about over scraps and PC.
Is Valve are clever and put the gabecube on store shelves for next Christmas, normies will see a shiny new toy to buy and it's goodnight vienna for both Microsoft and Sony. Sure, it won't kill Sony overnight, they're doing a good job of killing themselves, but it's competition that neither Sony nor Microsoft can counteract.
Sony and MS have, for two generations, played down the importance of exclusives and how "play anywhere" is the best option. Why then, would the average normie buy a PS5 to only play the two exclusives per generation, when they can buy a gabecube and play Xbox, PS and PC games on it?
If Valve are really smart, they will have HL3 (lol) ready to drop next year, or VR remakes of their old classics with updated graphics to relaunch alongside this.
Left4Dead used to be hugely popular back in the day.
Selling this thing for the same price of a console but emphasising on the free online play would be a smart move. And, after five years it pays for itself vs the £120/year PSN/XBL costs.
This could be a real game changer in the industry and I welcome it. Fuck Microsoft and Fuck Sony.