I voted for the second option ("Yes, Kinda depends on how well it's executed and how deeply it takes the steam punk atmosphere") though the last part does not matter to me. Browser games are based almost entirely on how well done they are and whether or not they are coded properly. There are dozens of games out there that are popular and good but have one or two major issues that detract from the game.

If you were to do a steampunk-based game, I would probably check it out and continue playing it if the system and story interested me enough.