No. It's going to be sub PS5 in terms of performance and should be priced accordingly. You can make the argument that games are a bit cheaper on Steam so they can maybe charge a premium for that.
I am ostensibly the target market for this as I refuse to play games at my desk, only the couch. But I would love to get into the Steam ecosystem and play on my couch and PCVR titles. But I would only consider one if it could do the things my PS5 does at a similar price for both the system and VR headset.