The exact quote:
It is important to us, and we’ve tried to be really clear, we are not doing the yearly cadence. We’re not going to do a bump every year. There’s no reason to do that. And, honestly, from our perspective, that’s kind of not really fair to your customers to come out with something so soon that’s only incrementally better. So we really do want to wait for a generational leap in compute without sacrificing battery life before we ship the real second generation of Steam Deck. But it is something that we’re excited about and we’re working on.
There are a ton of PC gamers who think the only way to play a video game is 1440p 60-144fps and anything below that is unplayable. The reality is the steam deck is a 720p 30fps handheld device that can occasionally make it to 60fps if pushed far enough.
IMHO a device that can run a game like God of war Ragnarok at 30fps in handheld mode and still play fine when docked is succeeding on the performance front in several aspects. In comparison, the switch version of Wolfenstein the new Colossus had to remove entire sets of geometry to even hit 30fps where the deck can hit that easily with the same settings without removing geometry and using AMD FSR. I think the deck has at least 3 more years in it before we even start to see any needed upgrades at that performance. Only time will tell.