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it was used as an excuse, the real reason is that Valve is REALLY slow at developing games.

I wouldn't say they're slow. You wouldn't believe the rate they're adding features to Dota 2, for example. I believe that they're actually quite a small crew with very ambitious projects, and they tend to move around a lot.

Major parts needed rewrite to not make it so easy to develop cheats for the game.

If the hackers would have the source, they would not even need to reverse engineer the engine to build their aimbots/wallhacks.

That does make zero sense.

It was a fear years ago when Quake was open sourced [1]. In Valve's case, the programmers probably had to audit all the source code in order to reduce possible exploits.

[1] http://www.bluesnews.com/cgi-bin/finger.pl?id=1&time=1999122...

I don't know. Ask gaben.

So he can act interested in my question, invite me for a friendly discussion over coffee, and then arrange to put me in a cage? Seems like a terrible idea.

Gosh, Valve must hire great PR. I had completely forgotten their overt evil actions around this incident.