I think the biggest business impact might be behind-the-scenes negotiations with Microsoft.
Of course, this is a seed that might bare more profitable fruit in the future.
If so, that's probably the thing to compare it against. :)
They did recently release "PlayStation Portal" which has the form factor of a portable gaming unit, but its not really a portable gaming console, its a portable hardware streaming client for PS5 games.
If Microsoft pulls some radical move, Valve will be in a better position to react than having to start from scratch.
They would have an edge if they would actually be pushing for native GNU/Linux games, as it is, it is just like OS/2 runs Windows better than Windows, kind of thing.
Just wait until the other SteamDeck competitors get more market share, all of them running Windows.
Lets see how the SteamDeck will stand against a market flooded with Windows handelds, Game Pass and GeForce Now, from 2024 onwards.
The game using a PE or ELF for its binary is irrelevant, what matters is the game actually running. There was a fringe loud minority that went all "No Tux No Bux" a few years ago but nobody really cares about that anymore.
> it is just like OS/2 runs Windows better than Windows, kind of thing.
This is a myth, OS/2 was only able to run 16bit Windows software and that was when 32bit Windows software - which OS/2 was unable to run - was starting to become relevant. In addition OS/2 wasn't even able to run 16bit Windows software as good as real Windows as there were various small incompatibilities (e.g. try running Delphi 1 on it and see all the visual gliches). And finally OS/2's (in)compatibility with Windows was among the smaller of its issues - more important was the lack of hardware support at a time when 3rd party "PC compatible" hardware was the majority of PCs and lack of support by IBM themselves (the story mentioning how IBM saw OS/2 as an accessory to their mainframe business has been posted a few times over the years here).
And let's not forget the anticompetitive licensing scheme Microsoft had for their OSes that practically forced people to get DOS/Windows unless they explicitly asked for something different (that would end up more expensive).