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Filed just yesterday, September 2nd 2025.
STEAM FRAME™ trademark registration is intended to cover the categories of computer hardware; computer networking hardware; computer peripherals; computer hardware and computer software for the reproduction, processing, and streaming of audio, video, data, text, and multimedia content.
https://uspto.report/TM/99370857
STEAM FRAME™ trademark registration is intended to cover the categories of computer game consoles for recreational game playing; video game consoles; video game accessories, namely, controllers for video games.
I would guess it's to indicate heavy association with the Steam client/service. Valve could make other products (I know they're working on human brain interface stuff), but if it's called "Steam..." you can easily identify it's in the gaming line for use with Steam.