This is what I don't understand. Why not hire 100 great game developers, give them $2 million each over 4 years, and have them develop Portal 3?
We know it would sell well. What about Left 4 Dead 3? Once again, it would be an instant hit. Even if Valve develops a game that breaks even, it helps to strengthen Steam as a whole and those users go on to make purchases elsewhere on their platform.
How much money did they lose because someone else developed Fortnite? How many users started buying games at Epic instead of Steam because their first jump into PC gaming was with Fortnite at the Epic store?