Comment by jwcooper
The Steam Deck is basically the successor to the Steam Machines. The actual hardware didn't go that well, but they laid the foundation in software for what we have now.
So, in a way, the Steam Machines were a great success.
Also, Valve has (for better and worse) far more power and control in the gaming ecosystem than most companies Microsoft has to deal with.
Depends on how many key AAA studios are part of Microsoft Game Studios portfolio.