Earlier quoted context omitted.
I suspect it's much more that Valve is an insanely lightweight company for it's customer base. It has something like 330 employees servicing 100 million customers on the go-to PC gaming platform, and a lot of those employees are working on shiny tech and new games. As a comparison, Rockstar North's facility in Edinburgh has roughly the same employee count (slightly more by Wikipedia's count), and all they do is put o…
> shiny tech and new games You mean Half Life with it's last full iteration from 10 years ago, and the second episode with a cliffhanger from 2009? Or the Source engine (HL2) which evolved from GoldSource (HL1) which was based on Quake 1 engine (with some parts from Quake 2 engine) - even the Call of Duty engine which aged well too is based on the more modern Quake 3 engine, and I wouldn't consider it shiny in 2016.…
Little games like Dota2? It's the biggest title on Steam in terms of players by a large margin and probably the 2nd most popular game worldwide on PC to ever exist (behind LoL)
It also generates a significant amount of revenue for Valve through the sales of tournament ticket and cosmetics.