Well, you don't know how powerful next-gen consoles will be
I doubt the Piston will play anything above Medium anyway, this isn't meant to be hooked up on a PC but a TV.
Yeah, I don't think it has to play new Valve games on Very High or anything, but it will have to look good.
I dunno. Don't know why they're trading performance and cost against form factor so heavily. A console doesn't have to be teeny tiny. I know Valve doesn't have the billions to make a Playstation or Xbox style subsidy or custom hardware. But, for example, the Alienware x51s are fine size wise, use pretty standard components, and retail with margin at similar prices as this looks to. And they are a lot more powerful. So I'm disappointed by the trade offs I'm seeing here so far, not what I expected. One of things I was hoping for out of a Steambox was a kind of de facto minimum spec for PC devs to target that would be a good bit higher.