No, Steam hasn't ported over Shark Week, Mythbusters, and Mike Rowe to its service (not yet, anyway). This is the next best thing. Unless you're a Daft Punk fan, in which case this is the third best thing. Anyway...
SteamDiscover your next favorite game. The Steam Discovery Update makes it easier to find exactly what you want when shopping for a new game experience.
In the past nine months, over 1,300 new titles have been added to Steam. We know you can’t play them all, so we’ve updated Steam with new features and functionality to help you discover the best new releases, the classics, and the unique indie gems you might be interested in.
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Basically, Steam is now letting customers curate their content. Steam will suggest games and reviews to customers based on their preferences. Users can block certain content from reaching their front page, like F2P, Early Access titles, preorders, etc. They may also follow certain curators, people/groups that will recommend and promote titles to their followers. Anyone can become a curator and you can follow any curator that strikes your fancy.
Considering the avalanche of awful games that has swept over Steam as of late, and the many calls made for reform (like this video, for example), this will be a welcome change for most.
You know, I can see why Steam called the update "Discovery;" dis-covers everything!