The Steam Machine is a good value for its form factor. Some people prioritize form factor. Some people don't. That's really the main factor in whether someone would want a Steam Machine. I feel like both sides of the argument are ignoring that.

Right now it's way too expensive for me, but that's because I currently have a PS5, Steam Deck, Switch 2, and PC that was mid-range in late 2021 that were bought when prices were reasonable. Once games I want to play come out that I can't play on my current hardware, we'll see where the market's at and what makes sense, price-wise. I might have to go without high-end games for a while or even for good if prices never become sane again. Hoping I can squeeze several more years out of what I have now.

If someone had no way to play games and wanted to start gaming on the TV now without having to build something, a Steam Machine still would be a hard recommendation when the Switch 2 exists at a decent price, with the added benefit of being portable. The Steam Machine's only worth it at its current price for people who like to tinker.

You can totally build a system as small and as quiet. You really have to be experienced to do it, for sure, but it can be done. My last build was a shoebox sized mini itx. It was 1" taller and one 1.5" longer than the top of the line video card I put in it. It had 4 SSDs and a full size PSU.

It was whisper quiet until you asked for the absolute maximum output. It was always silent doing anything a console could do.