This is logged on steam output. You need to run 'steam' on a terminal to see what is going on, or any kind of Steam error for which the UI is not helpful.
I second that it should output messages from failed launches. I have seen native games fail on Linux due to incompatible system libraries. Took me quite a while to figure out that Steam does not have a log and you need to launch it in the terminal.
Nothing extracted yet.
Currently if a game fails to launch, it fails silently with no message from the GUI.
Maybe the ui could also link to game log folder locations.