Yep! When you open the Steam menu, you can access a full-featured desktop mode. It makes the device virtually limitless outside of the software issues you mentioned. And I agree entirely that it's ridiculous to see these companies ignoring Linux the way they do.
Hopefully you enjoy your second try of SteamOS!
In keeping with another post where I ended my arguments here, I won't debate the point any further but guys: this post is how you conduct a discussion like a mature adult. Learn from it.