Why do they call it a console? It's a pre-built PC, using standard PC parts, and a Windows operating system (I assume, since it can run other PC games).
They've never called it a console

Nothing is official at the moment, it's all just rumours and speculation.
Urgh. This would only end up leading to Origin consoles, Ubi consoles etc. as they'd all want to get in on it.
How do you ensure that people are buying Steam games?
Steam is two things, a shop and an unpleasant DRM. The two intertwine. Even more strongly with Steamworks.
Please Valve, just fade away.

EA and Ubi aren't dumb enough to think that they can release a console and make profit.