oh damn. i dont like newest
i want stay old steam.........
It's just an operating system, with gaming in mind, The original steam is still here.
I assume this is just another step towards their goal building an own console. Which has been made public some time in the past.
Steam OS is probably just a derivative of Ubuntu, but with Steam's fullscreen-app as start screen.
Edit: Other sources say its just a thin-client to connect to a Steam-game running on a PC nearby. Hm, kinda pointless I must say, especially if you have to pay the electricity-bill by yourself.
It's both, Chuck.
For the native Linux games it's just a Linux OS, for the Windows/Mac games it's something like a thin client.