I think it depends on what you want. This does things that other PCs cannot; CEC, one-touch power-on, built-in support for the Steam Controller all in a super small, good looking, very quiet and energy efficient package. If you are someone that doesn't want to go down the DIY route and just wants a small lounge PC to stream games, play games on the big screen, or compliment a Steam Deck. This does that. But Valve have been funding open-source software so that you don't have to buy their hardware. There is nothing stopping you running Steam OS, or another version of Linux on your own hardware. And they have essentially simplified the PC in a way no one else has, despite years of Microsoft trying.
The price is nasty, but equally so is buying any tech at the moment and it was the worst time to release. A year or two earlier and I think some of the criticism would have been mitigated along with a better price. Maybe they took long after the Steam Deck to release this.