Valve attempted the Steam Box years ago, it failed, but with Steamdeck, they proved they could establish their own hardware platform.
Is there a future for smaller companies in the console market with AMD apu based devices? Or does none of this matter because of cloud gaming.
Then there's the whole challenge involved in actually marketing the thing. Why would customers buy this? How much would it cost to advertise a brand new system in an era where the major console manufacturers are spelling millions (probably billions) on advertising and have about a hundred times more name recognition than you probably will?
As for cloud gaming... that's proven to be quite the technical challenge in of itself, and even companies on the level of Microsoft and Google are struggling to get it to work flawlessly right now (or to sell the public on the idea in general).
Personally speaking, I think the console market is going in the wrong direction with more complexity and customizability. Consoles should be simple (not with a bunch of different models and variants) and just work for quick entertainment.
PCs are where you go when you accept that there will be some complexity and complications in figuring out how to run your game.
https://www.vgchartz.com/article/448650/microsoft-the-xbox-d...
Console makers make good profits through expensive games and subscription sales, but it is a risky business. That is, selling the console at a loss is certain, any revenue you get after that is speculative.
Looked at another way, the smartphone market is a console market: limited use digital network terminals have metastasized to the point that "general purpose" computers with utility of their own, separate from the network, are a rare thing to find.