Oh, well that's terrible naming then. I totally thought this was a PC gaming console. I wonder if Valve is going to try to fight a trademark in court because it's so similar.
This guy better be careful otherwise he could be stuck with huge legal fees depending how popular this gets. Seems early enough in product development that he could change it without problem.
It doesn't matter who had it first. I don't think Elgato has the deep bottomless pockets that Valve has. They both wouldn't stand a chance in court for years of litigation. I'm not saying it's fair but that's just the way it is in the US court system.
Terrible naming indeed. Valve should have thought about that before naming their new product... but they probably did, and decided they were the bigger fish.