Power-wise Steam Deck isn't on par with current gen consoles nor even last gen consoles. It can play plenty of games, but we've reached a point that it can't run most new AAA games at an acceptable level of performance regardless of settings. With a console you can buy pretty much any game and assume that it will run at a playable frame rate (though there are of course exceptions).

I own a Steam Deck and its one of my favorite devices but its specs are now not really at par with standard (given its age it makes sense). They need to release a newer version but I doubt they can keep the same price value as they did with the original given the market conditions