Nothing confirmed directly by Valve yet, but Ars Technica just put out a report describing the project in a fair bit of detail. The first major hints that this project existed came this morning when SteamDB's creator noticed some string changes on Steam's back-end talking about "Neptune" and "SteamPal", and put two and two together. That said, it also feels pretty clear that this is what Gabe Newell meant a few weeks ago when he said that there would be more to know about Steam on consoles "by the end of the year".
It could certainly be interesting, especially given how popular indie games have been on the Switch, but I have very little faith in Valve's ability to not only finish this project, but actually market it successfully. I remember like it was yesterday when Valve announced Steam Machines and acted as though they would put consoles out of business forever, not to mention the Steam Link and Steam Controller both having fallen almost completely flat. If somehow "SteamPal" does make it to market, I won't be shocked if it ends up talked about in the same tones as Steam Machines before long.
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