FWIW, Valve is probably also selling the Steam Deck at a loss. $400 for an Xbox One-tier AMD chipset in a nice-feeling controller case? Something tells me they're not banking on hardware margins to sell this console any more than Nintendo did with the Switch. Valve's real boon (IMO) is that they're teaching the rest of the industry how they should operate - first-party app stores can charge whatever fees they want for convenience, as long as third-parties have the same degree of control over the hardware. And guess what: it worked! The fact that Valve is talking about Steam Deck successors means they're not losing too much money, and I think it makes sense financially. If Valve takes 10-30% of every game bought on Steam, the amount they're making from Deck users must be monumental. I'd bet anyone 10:1 that there's a dashboard internally at Valve tracking how much money they've made from purchases directly on Deck hardware.