Everything else they've made in that time has been live-service forever-games which have relatively minimal development costs but generate hundreds of millions of dollars in profits, largely through predatory gambling mechanics. Putting a fresh coat of paint on Counter Strike made them upwards of a billion dollars in the first few months alone, and it'll keep printing money for much longer than Half Life 3 ever could:
https://esports.gg/news/counter-strike-2/valve-cs2-money-202...
The sad thing is that being a private company they don't need to pursue Scrooge McDuck billions at any cost like a publicly held company would, they have the freedom to make whatever they want, but apparently what they want to do above all else now is to peddle lootboxes.