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Some sort of linux/steam box using a dedicated controller and its own front end. Quick conversions of many top pc titles, low game pricing. Huge library of games. It would need lowish funds to bring to market and actually be a reasonable gaming platform. An ouya type concept using pc type hardware instead of android.

All I know though is I haven't heard of any major developers developing for an unknown console and any new console needs games for success so I think it's going to utilise an existing game library and really that is either android or pc or both. I can't imagine it would be windows based so it has to be something like linux. Perhaps Valve has some connection to it.