And then Apple later became the most profitable company in the entire friggin universe with a model based on hardware sales..
AH yes, the same the great Apple that got saved from bankruptcy by uncle Billy Gates (see history). How many sales flops before they released something that made them so big???
The cost of R&D to develop a viable piece of hardware that will sell like hotcakes not to mention marketing costs = lots of money in a shaky global economy.
The stock market loves people like you! Long live free enterprise!!
Anyways, Valve needs to position it's bread and butter first aka Steam and once the royalties $$ is rolling in like crazy they can look into hardware in order to maximize revenue by owning and controlling the distribution channel (hardware).