If it was made by ANY other company, it would be universally hated and called things like gimmicky, stupid, and unnecessary. Let's take a moment to realize how high of a pedestal we place Gaben and Friends on, as well as how willing we are to put other people/groups/companies down without a second though.
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I don't have any personal attatchement towards Valve. However I'm really interested in the Steam controller because it's really the first gamepad design where thought has clearly been put into what is the number one problem with console shooters: the aiming interface. Whether the touchpads are better or worse than analogue sticks is a debate of its own, but at least Valve is ready to try something new. You know, it would've been much easier for them to just go with regular analogue sticks.