I wanted to agree with Ghazghkull right of the bat but figured I'd listen to this compilation first so it doesn't seem like I'm talking out of my ass.
First I want to say that I also think a musical genre should be a group of bands that share a similar sound or musical style, not just a theme or particular lyrics like some types of metal (I'm looking at you viking metal

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Having said that, with a few exceptions that sound like some electro crap, epic fantasy instrumentals like you would hear in an Elder Scrolls game or just plain rock 'n' roll, a bunch of song from this compilation do have a distinct sound I just wouldn't call it steampunk. It sounds more like carnival music.