http://www.gamespot.com/articles/steamboy-project-is-a-portable-steam-machine/1100-6420490/
Are you ready? [spoiler]For this flop[/spoiler]
A portable Steam machine seems on the surface like a decent enough idea by Steam Machine standards, especially with potential remote play
but Steam is x86-only, which has rather major consequences in hardware design and price
and this is an independent project with no Valve involvement
and I doubt SteamOS is designed with considerations for a use-case like having very small internal storage and putting many games' data on an SD card
In the aspect of putting non-Android Linux on a handheld gaming device, this reminds me of OpenPandora, which I think looked like it has more design effort put in it than this