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The Valve Steam Deck was announced on July 15, 2021 and isn’t even released yet. The Elgato Stream Deck has been for sale since mid 2017.

I don’t think Elgato, the manufacturer of the Stream Deck, or this guy, who wrote code to integrate with it, have anything to worry about.

It doesn't matter who had it first. I don't think Elgato has the deep bottomless pockets that Valve has. They both wouldn't stand a chance in court for years of litigation. I'm not saying it's fair but that's just the way it is in the US court system.

The photos in the post show quite clearly what this is.

This is not a new product. It's the author's configuration for an existing product, the Elgato Stream Deck.

Terrible naming indeed. Valve should have thought about that before naming their new product... but they probably did, and decided they were the bigger fish.