Here's something that could be exciting but also could be a whole lot of nothing. So keep expectations firmly in check, but work submitted for Linux kernel 6.6 show something interesting from Valve. Potentially a Steam Deck refresh or their new VR headset perhaps?
They're probably all in on steamdeck (and planning steamdeck 2) for a good while. They have enough workload for that, so I can't imagine they're doing VR.
Valve has openly stated that they only work on things that interest them, which is why unless there is some interesting new technology to play with (like they played with VR for Alyx), there will be no HL3.
I can totally see them chasing the shiny and dropping VR to focus on Steamdeck as the new Shiny, and then dropping Steamdeck to focus on whatever the new technological shiny is after that.
The speculation for a while (and, frankly, the direction I'd love to see them go in) is that the work on the Deck was going to be a stepping stone to a standalone VR headset. Take what they learned in VR with the Index and then what they learned in portable PCs with the Deck and slap the two together to get a real Quest competitor out there.
There've even been numerous leaks over the years (even pre-Deck) about a standalone headset internally labeled "Deckard".
The difference here is that the steamdeck is a pretty good success. This (and its successors) will guarantee their future. They're be fools to drop it.
Hopefully I'm not being overly optimistic in agreeing. I love my Deck but am not impressed at all in the rest of the handheld market. Being stuck on Windows and not having necessary tools like the trackpads means that I'm not hopeful for the market if the Steam Deck doesn't continue.
I think they’re building towards an Index/Steam Deck marriage. Idk if it’ll be the next gen or following another release cycle for both products but I think that is ultimately where they are driving towards.