What Does Switch 2 mean for Steam Deck?

With the Switch 2 releasing some time this year, I've been seeing some people wonder about grabbing a Steam Deck in 2025 with more handhelds hitting the market and not Steam Deck 2 nearby in sight. Let's break down where I think the Steam Deck stands in 2025, why it and the Switch 2 aren't direct competitors, though closer than the original Switch was, and why Valve has pretty much no reason to be worried about the year ahead.
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