While I think you’re ultimately right, 6 years ago I would have said the same thing about the Steam Deck idea, so I’m compelled to offer counterpoints.

Valve, very uniquely, does offer the best Linux-based digital games storefront to use on that Linux gaming PC you bought. So, they’re very much positioned to take advantage of the hardware purchase. Users aren’t “locked in”, but they are compelled in, and users may have a smoother time getting games on Steam than trying to set up controller-based launchers on Heroic or something.

It’s like when the pet isn’t literally fenced into the house, and is allowed to roam free, but is reminded that its fluffy toy and warm meals are all back at home, so it’ll never go far.

Valve also might just be more forward-thinking than most game companies most COMPANIES these days. They build goodwill this way and get people obsessed with their brand by having more wins like this.