Very interesting proposition. If I wouldn't be getting a PS4, I would be really tempted. Would get it over a Xbone easily for the same price.
It's performance depending on the CPU should be around PS4 levels.

I am interested in this.

AMD DOMINATION!
Glad I picked up some shares lol

I see my sarcasm was lost on you. I'll go slow. I.....think.....$499....is.....a.....good.....price..... for....this....steambox....therefore....it.....is.....not....pointless.....that's.....why.....I....put......a....smiley......face......next......to.....my......JOKE.

Current gen consoles (PS4 and X1 are current gen now) might still produce better or similar quality games than this machine, so if I were to buy a steambox, I would want one quite a bit more powerful than my PS4. That's why I'm wondering how much more powerful this one is. If it's marginally more powerfully, a dedicated game machine like the PS4 might still be a better option. If say a $750.00 steambox was announced with higher specs for the price, I'd consider buying one over building a PC myself.

Do you understand now?

EDIT: Looking at the specs Ethomaz posted, $499 for this is not worth it if it can't beat a system that's $100 cheaper. The power/cost ratio is still decent compared to the X1 though.

Sorry I used the R9 270 X specs... now the real comparison.

PS4's GPU runs at lower clock (100Mhz less) and have less processing units but it all compensate by the more "close to metal" programming where the R9 270 have a lot more overhead layers that put consoles optimizations ahead in terms of performance.

The difference in memory size is favorable to PS4 too and it is way more capable in Compute tasks than R9 270... so TrueAudio support and 8 ACEs.

Overall the PS4's GPU will performance way better than R9 270.

The Mantle can help to decrease the GAP but it is not available to StreamOS (Linux).

Conclusion: PS4 is stronger and $100 cheaper.

PS. I won't do a Xbone comparision because everybody here knows the result. 

Does it support normal controllers?

Also i'm pretty sure valve are selling it at a loss so no price cuts for a while.

Color me interested. For that price, it's a very intriguing proposition. For $500 you get access to the majority of third-party games on PS4 and Xbox One, plus PC exclusives and a huge library of classic PC games. Plus free online and Steam sales. It could definitely make the X1 and PS4 redundant.

I want one because at that price point and performance it is perfect.

The Steambox is going to fail hard for the simple fact that PC gaming will hardly get any more developers on its side.

Consoles have far more high quality games for a reason, that reason is rampant PC Piracy and devs rarely want to take a chance at releasing a big game on PC because of it. 90% of PC games never make a profit, or have to rely on a free-to-play model to get them by.

Lol. The design of this Steambox is obviously inspired by the PS4.

Also, by not adding much information about the machine (other than the GPU), makes me suspect the rest of the system is not up to par. Not bad for $500.. but can't say much about it, without seeing the rest of the specs.