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I just checked my local marketplaces, and it is easily less than half the price. Of course, the parts are second hand, because they’re not even sold new anymore.
Alternatively, you can also build a PC smaller than the Steam Machine, running a Ryzen 7 8700G. It’ll be even cheaper, but also considerably weaker on the GPU side.
“If you hunt stuff down, buy used, and get good deals, you can do it for cheaper.”
I don’t think you’re making an honest comparison if you’re doing it with used parts. You can get lots of things cheaper used.