Could the rumored Steam Box from Valve change gaming as we know it?

"I cited not only specifically Valve, but, Half-Life 3 as this huge push we require to usher in a new wave of games, and a new sense of awesomeness among games, instead of hype-creating machines and marketing magic that we see with the latest iterations of Call of Duty for example.

I actually named-called Half-Life 3 as a savior, and this week we have news popping up of a potential "Steam Box" from Valve. What would make this work? Could it work? Could it change things for not only gaming, but PC-exclusives, Valve themselves, sequels to Valve's games, and the biggest question of all: gaming itself?"