The latest Steam Beta Client (for the Steam Deck) contains a code that says "peer-content" client/server. This has led to speculation that Valve is planning a new download feature. This would not only include downloading a game from the Steam server, but also a function where one client can download from another. So peer-to-peer downloads.
This was discovered by dataminer Pavel Djundik, who also founded SteamDB.
LAN Download on Steam Deck
For example, you could download games that have already been downloaded from your desktop PC to your Steam Deck. This is especially worthwhile for users with a slower broadband connection.
Unfortunately, it is not yet known when the function will be officially switched on.