If it's fully compatible with your entire current Steam library, and has slick enough components, at a decent price point to compete with consoles directly, it could stand a chance. You have the advantage of being able to lock in and standardize components, and only support a few resolutions, so it's easier to optimize a system to give it some longevity.
That said... The control side of it could be the kiss of doom. PC has one major thing going for it, that helps to set it apart from consoles, and that is the precision and flexibility offered with a mouse/keyboard control scheme. Force all of your PC games to be dumbed down to the limited console gamepad, and you lose that edge that might be keeping gamers glued to the PC platform. Rather than re-inventing an already limited control scheme like the gamepad, why not work on a comfortable and effective mouse/keyboard controller that you can sit on a couch and easily use? Bring the PC control experience to the living room, make it competitive with a console in price and simplicity, and you might open up quite a niche market. Force the PC to conform to console limitations, though, and you risk ostracizing your current consumer base while losing any advantages that make PC gaming unique.