Earlier quoted context omitted.
Steam is a money printing machine, I don't think they have a money problem
Valve predates Steam by a number of years, and Steam wasn’t always in the dominant position it’s in now.
Heck, Microsoft followed exactly the same trajectory some years earlier, to the extent that their operating system is still synonymous with the idea of a desktop PC outside of the US (which I understand leans heavily towards the Mac, somehow). Their position is showing signs of crumbling only after multiple years of neglect and outright self-damage to their OS. The stability of a monopolist position locked in early is sometimes greatly understated.