Bazzite is a part of the Universal Blue family, which is more of a repackaging of Fedora Atomic.
I'm a fan of my Steam Deck and SteamOS, but I'd like that experience to eventually be available via community supported distros, which Valve/Igalia can rebase from, and instead focus on Proton.
Bazzite is the closest to that that we have so far.
Afaik Valve is hiring/sponsoring people that were already making the projects. So much of the work is outsourced to codeweavers and KDE.