Yes, and now we are living in a reality where Steam has taken over ~all meaningful, non-niche digital PC games distribution. They got into a monopolistic position during a small time window of inflection where the market was transitioning from physical to digital distribution. It's meaningless to talk about the past in these circumstances, unless something truly drastic happens to open another such window to let someone displace Steam.

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.