This "real" handheld is the one Microsoft designs and builds entirely in-house, but we'll reportedly see parts of that experience via the upcoming Xbox version of Asus' ROG Ally 2, which apparently ...

Initially, that's the Lenovo Legion Go S, the first partner handheld to ship with SteamOS, and which is releasing imminently.

The upcoming Xbox handheld is expected to use and AMD based APU, unlike the Nintendo Switch 2 - which uses Nvidia.