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Rough timing. My entire gaming PC cost less than this and is much more powerful, judging by the specs. But I built it out with 32 GB RAM and a few terrabytes of SSDs and NVMe before the current silicon panic, and just upgraded the GPU last year before the prices increased.
I don't see how there was any way of winning for Valve on this with the current market. It's not worth the cost, but there's also likely no way they could make it cheaper.