looks shite.
That's what it is. You can use it either as just a new UI or basically it'll do the same thing as Apple AirPort if you have something less powerful that's hooked up to your TV. Doubtless going forward there will be Smart TV apps, etc. If I were Valve, I'd be opening this stuff up so somebody makes it work on a Raspberry Pi, £25 for a box and it would be yours and you could do whatever you wanted on it and at the switch of a SD card it'd let you run your latest FPS on a TV, that's gotta be cheaper than developing for a Samsung TV, etc.Huh? It's just a new UI to navigate the Steam app isn't it?
The comments here suggest there's hardware involved but I didn't see anything shown in the video.
More info?
So it's shite then?