Valve has finally revealed the price of its Steam Machine, and while it’s not as terrifying as some feared, it’s another sign that the console era as we knew it is fading fast.
The base model with 512GB of memory runs $1,049. Bundle it with a Steam Controller and you’re at $1,128. Want 2TB? That’s $1,349, or $1,428 with the controller. For context, a 2TB Xbox Series X is $730, a PS5 Pro is $900, and a Switch 2 will be $500 starting September.
So why so expensive? Blame the global RAM shortage. It’s been hammering the entire electronics industry — phones, laptops, PCs, and now consoles. The Steam Machine was actually delayed earlier this year specifically because of the memory crisis. Even Apple, a company worth multiple trillions, is planning price hikes because RAM costs have become “unsustainable.”
Valve’s argument is that the Steam Machine isn’t a traditional console. It’s an extension of PC gaming. “The traditional console model is to sell hardware at a loss and make up the revenue with subscription services or by selling games that are locked-in to the hardware,” Valve said. “We think open ecosystems are better for customers over the long term.”
That’s a fair point — you get access to Steam’s massive game library, not just a closed ecosystem. But performance-wise, the Steam Machine is roughly comparable to a PS5, which is 5.5 years old and nearly half the price.
The bigger picture here is grim for console gaming. Sony’s PS5 sales dropped 46% year-over-year after their price hike. Nintendo and Microsoft have both raised prices. And now Valve’s entry into living room gaming costs over a grand. The affordable console era is over.
Whether that’s worth it depends on how much you value openness versus convenience. But the trend is clear: gaming hardware is getting more expensive, and there’s no sign of it reversing.
