The TF2 team is also working on a secret project that isn't a hat or a map, Valve reports. This leaves speculation open to new characters, a feature-length film, a live-action feature-length film, or a live-action feature-length film starring Brendan Gleeson, Jude Law and Emma Stone. These are the only options.
The Steam Workshop has a shiny new blog, and Valve says it plans to unveil another secret at the second annual Saxxy Awards. We're pretty sure this secret will be the announcement of the TF2 movie's sequel, starring Katherine Heigl as Brendan Gleeson and Brendan Fraser as everyone else.