It is an AOOSTAR GT37 which actually outclasses the €1,039 Steam Machine in most areas except graphics. One cannot blame Valve here though, the hyperinflation of RAM prices is too blame here.

AOOSTAR GT37 (€676 a few months ago [now vastly more expensive if you can still get one at all]) vs Steam Machine (€1039 right now)

CPU: 12x Zen 5 vs. 6 Zen4 Graphics: 16x RDNA 3.5 vs. 28 RDNA 3 RAM: 32 GB LPDDR5X vs. 16 GB DDR5 + 8 GB GDDR6 HDD: 1 TB vs. 512 GB (both NVMe-SSD)

I expect the Steam Machine to run graphically demanding FPS games quite a bit better due to the extra RDNA cores and faster VRAM. However it might actually be the inferior gaming machine for CPU/main RAM intense strategy or simulation games (e.g. Stellaris).