Steam’s business model does prevent it from pricing its consoles like Sony, Xbox, Nintendo, etc. since they need the console itself to be profitable, not just a means of bringing in games sales.

It’s plausible that they’re taking into account an uptick in overall game sales from this console - at least for me, I’ve been purchasing new games mostly off of steam rather than playstation/nintendo ever since I got a steamdeck - but you’re right that they aren’t going to sell at a loss.

Regardless of the price (and whether or not I even buy one), I think it’s healthy to have another “big” player in the console market.