Observing the same behavior on Arch with AMD/Mesa and Sway. Originally was on the steam client beta but opted out via console argument for testing, behavior and log output is the same in both versions.
I tried putting steam into game scope but it froze the same way gamescope.log, Starting it in a Xephyr (therefore x11 only) works.
As an update, I have narrowed it down only to a Wayland issue. Reinstalling steam completely doesn't change this behavior at all. Additionally, I have tried Sway (like above) and KDE Plasma to no avail. Steam runs just fine in Hypr, AwesomeWM, and DWM though. Maybe it has something to do with a newer version of wl-roots? If not, I am lost as to what causes this.
A recent system update fixed this for me. I think it may have been an xorg-xwayland issue, as a new version fixed this.
Closing per the last comment.
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Please describe your issue in as much detail as possible:
Using Steam on Wayland (Hyprland) seems to completely crash steam, making it hang on start up. The output of my terminal when running can be found here. Steam boots and runs fine when running with X11 (XMonad), but completely stops loading when running in Wayland.
The updater appears and disappears for a second, with the process running continuously in the background but not using any resources. I have no clue what the root of this bug is, and have let it run for several hours and no further output is displayed to the terminal afterwards.