I will have to wait and see, but I am skeptical just like many others.
The form factor and new controller design are interesting, but this will not be a direct console competitor nor does it appear to some fantastical reimagining of the PC.
On the PC front, my fear is a dumbing down of the PC's capabilities and the decrease in customization from Valve's presumed intent to consolidate everything into a handful of SKUs. At a certain point, if my "PC" system becomes less robust, the console systems keep moving towards a classic PC architecture, and resolutions/capabilities stagnate (such as Carmack's love for 1080p...,) I could see a future console, especially one that finally accepts and properly utilizes a mouse and keyboard option, might be a better option based upon price and performance.
Otherwise, Valve's OS better show amazing, profound performance differences, though past operating systems have not shown this ability. I am very, very interested in streaming my PC and/or consoles to different screens, but I don't currently see a point or feel any type of hook for the Steam systems. I already have a nice system that I can customize endlessly on a whim and I am able to do so for a relatively lean cost due to my ability to change out individual components on a whim, by having a wide range of options and being able to select the one with an exceptional price to performance ratio, and/or delaying purchase over a one or two week period and watching for brief online deals from numerous retails that may last only a day or even a few hours.
I can partially see this as Valve's attempt as an upscale console - start out with the consoles, then learn to do more or want for more customization or graphical fidelity with our mini-PC - but there already seem to be good alternatives to this. This might a good option for the rich/lazy/uninformed people that buy Alienware systems or as a response to graphics cards vendors that are trying to sell you three or four GPU system, but it doesn't initially seem price efficient nor is it appealing to me as a system builder. I would need a lot more to give up my current system and I certainly won't buy two high end systems, to say nothing of the "average" gaming consumer that is locked out by cost from buying anything more than a console.
Screw it unless the price is there and the OS numbers are insane.Skeptical and waiting,
Ray
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