This is an example of competition working. Normally, an oligopolistic market like this would not have good faith competition, but Valve got rich before they could be corrupted by VC, so they obey the intentions of one crazy entrepreneur, instead of the normal undifferentiated VC behavior.

Steam’s competitors keep trying the VC strategy and it can’t work because Steam exists and, at least while Newell maintains this attitude and control of Valve, don’t do it.