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this post was submitted on 24 Sep 2023
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People saying Steam doesn't have a monopoly because other stores exist, is the same as saying Microsoft doesn't have a monopoly on PC Gaming because Mac and Linux exist. Technically true, but ultimately meaningless because its their market power that determines a monopoly, not whether there are other niche players.
While Valve and Steam have generally been a good player, and currently do offer the best product, they still wield an ungodly amount of influence over the PC gaming market space.
Epic is chasing that because they really want what Valve has, though no doubt they plan to speedrun the enshittification process as soon as they think it safe.
When people say Valve doesn't have a monopoly, they usually mean they don't engage in anti-competitive practices (like making exclusivity a condition for publishing on their store, cough cough).
Actually, Valve's recent moves represent what free market capitalism should be about - when competing stores started to appear, they instead made massive contributions to Linux gaming and appealed to right-to-repair advocates with the Steam Deck. Now both of those demographics are suckling on Gaben's teats, myself included.
But they do. They forbid devs to sell their games cheaper on other storefronts (outside of timed sales). Basically they enforce anti-competitive pricing on products in a way that makes it impossible for the devs to move the platform costs into consumer prices.
Devs could sell the product on Epic for example for $49 and make the same amount of profit as they do on Steam when priced $59 due to lower cut, but they can't do it because Valve forbids it. It anti-competitively protects Valve and their 30% cut against competitors who would take lesser cuts, at the expense of end customers.