The living room PC is a certified thing now, and not just for those of us with extra long HDMI cables. The Steam Machine is "out" for the dozens of people who've picked up the $1,000 cube, but before that, folks were already making their own living room machines that run SteamOS.
Anyone can make a Steam Machine, which is exactly how Valve likes it. That's one reason it priced its GabeCube roughly at cost (which has skyrocketed thanks to the AI-driven memory crisis), and why it has no interest in making games exclusively for its Linux-based devices.