They don’t have the means to produce at scale, which has resulted in wild price fluctuations on their end. (even though to steamdeck OLED did sell out at the much higher price.) To me at most they will continue with the controller, but that’s about it.
They have been actively expanding it for many years now. Hardware is a long term strategy for Valve and they are definitely not going to step away from it anytime soon. The Steam Deck was and still is hugely successful, and a big factor differentiating Steam from other PC game platforms. The current market might mean a short term change of plans, not more than that.