The selling point, for me, is that it's a console in both form factor (not a PC tower, smaller than small PC cases) and easy of use (you plug it in, you play games, no shopping around for parts), yet because it's a PC you have control over it (load non-Steam games, use the desktop to do whatever, install a different OS even).

Clearly not for everyone, but for someone like me who wants a more powerful box than the Steam Deck or Switch under a TV, yet hates the locked-down nature of the traditional console makers (which are just slowly getting worse, viz. Sony's announcement to kill physical media and the control it brings owners).