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The warranty goes through you on your account if anything goes wrong since you made the purchase on your account.
https://help.steampowered.com/en/faqs/view/4E41-6123-79EF-25BA
https://store.steampowered.com/hardware_order_terms?snr=
Warranty Information if something is broken.
https://help.steampowered.com/en/faqs/view/4E41-6123-79EF-25BA
Full Hardware Guide that includes everything.
https://help.steampowered.com/en/faqs/view/307f-a625-1f33-3247
Valve has a 1 year warranty.
Hardware refund policy is 14 days.
No ifs ands or butts. (Unless your in a country other than the states - check fine print/local laws)
If your concerned about issues - you'll want to consider buying hardware insurance on it for anything past 1 year warranty.
Insurance basically compensates you financially if your "device" breaks past factory warranty - sometimes they can cover repair costs.
Popular ones are Square Trade and Asurion (?) - one of which is frequently offered Amazon.com - Square Trade however may be gone or renamed - so i could be dated.
On the bright side the demand for LE OLED's is rather high so you may be able to recuop funds selling it to someone "used" - Ebay will be hot I suspect - especially if you don't play the scalp game.
Honestly?
I think your going to find your son is thrilled and will be very happy for the gift you've purchased.
You can try reaching out to steam - but I suspect you will more or less get the same answer.