Not in terms of performance per dollar. The steam machine is HEAVILY compromised by the last Gen. 35 watt CPU, and previous Gen. 110w GPU. The entire system performs like a mid range PC from 2021.
You can get a much faster pre built for the same money. You’re paying the SFF and quiet PC tax on top of the RAM/SSD crunch tax. If you don’t need the small size or for it to be whisper quiet you can get a much better PC for your money.