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UPDATE: Looks like it was a setting in my router. I have a TP-link Archer C5. There is a default setting "NAT boost enabled". I have disabled NAT boost and it seems to be running fine. Will have to test further to make sure.
What I think was hapenning is the NAT boost would shut out my steam link after a while because it was taking up so much bandwidth over the network. TP-link doesn't do a good job of describing what NAT boost is, but it must be some sort of security/regulating feature to shut out devices using extreme amounts of bandwidth.
You're describing the exact issue I was having. After resetting, the steam link would not find any (of the many) networks in my area.
I have used the steam link for about 4 more hours after adjusting my router settings and things still seem to work fine. This makes me think it must be a router settings issue.
I would try playing with the network settings listed here
I solved it by disabling Hardware nat (called nat acceleration sometimes) This feature cause problems with low latency applications. I guess it's the same thing that Nat boost does.
Works flawlessly now in 5ghz.
See slouken's response here: https://steamcommunity.com/app/353380/discussions/0/485623406941817265/