I agree the word is being overused, and hence my derisive tone. Steam, despite it's drawbacks, appears to be an excellent content-delivery client for games, and adding non-game content is, in my opinion, not the greatest idea in the world.
It is, however, what the fans/consumers want, so they'll make of it whatever is eventually rolled out. My question is, how will it be implemented to take advantage of the cross-platform direction they've taken lately (supporting Linux, and Mac previously). Will you be able to filter the list, or will the client do that for you automagically?
Interesting times...