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Valve says it isn't subsidizing the Steam Machine's $1050 price because of its "religious" refusal to "build a more closed system"
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You're comparing high end 512gb prices with low end 2tb prices. I somehow doubt Valve is selling this with a no-DRAM-cache SSD. It's only a $50 different if you compare fairly, and I doubt you'll find anyone willing to buy the old 512gb for full price either.
Valve's pricing is incredibly normal here. Yes the price is high, but they're not straight up ripping you off like Apple's RAM and SSD upgrades.