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The problem with judging Steam as a monopolistic platform is whether it uses its market position to maintain its monopoly or not.
Valve doesn’t really engage in vertical integration. There are a few games that Valve makes as a first party exclusive, but nowhere near other competitors like Nintendo or Activision Blizzard. There also isn’t a gaming engine that ties to Steam directly; the closest is Proton but that isn’t required.
Valve doesn’t seem to seem to require onerous requirements on third party game studios to publish on Steam. Outside of banning ad-supported gaming, Valve doesn’t seem to demand preferential treatment.
Valve could easily become a problematic monopoly, but it isn’t there yet.
I don’t know. I look at it like firing all your construction contractors after built out all your stores in a city. You might need some construction trades to maintain your stores and your might need to relocate a store every once in a while, but you don’t need the same construction staff on had as you did with the initial build out.