When they announced Steam Machines the first time, I thought it was a great idea because it would give PC devs a sort of baseline system to aim for, and then I was surprised when they launched and they were all sorts of different system specs. I’m still convinced that’s at least partly why they failed - if you buy a console like a Playstation or XBOX, part of the appeal is that you know exactly what you’re getting and what will run on it. If it says ‘PS5’, it’ll run on your PS5.
So hopefully if they try again it’ll be something along those lines, kind of like the Steam Deck.
I assume this is the same reason why they want to ban TikTok but not Facebook - it’s not so much that they object to the data harvesting, they just object to non-American data harvesting that they can’t readily influence.