I'm hoping that this pushes Steam in-home streaming enough that Valve ups their development effort into it. The only thing really keeping me from using my HTPC over my PS4 is lack of 5.1 surround sound support in Steam streaming
Nice. The key is the low latency part. Without that it's pretty much useless. That being said, 50 bucks is an attractive price point even if it's not quite perfect.
I think you will see a lot of people buy this not realizing you still need a proper gaming PC to stream from. I stream steam a bunch and use an older business class laptop and it works great so I'm sure their optimized $50 hardware will work really well.