I feel like this was more in support of their new VR headset which has an ARM processor. I actually doubt we'll see a Steam Phone even if the idea is interesting to me (since it would be a linux phone). At least, I don't think we'll see it any time soon.
On the other hand, Valve has built a compatibility layer for ARM Linux to run Android APKs, so if anyone could make a jank-free Linux phone it would be them
