If the criticism here is that Valve isn't sufficiently focussing its employees' efforts on revenue-earning activities then I don't think that's the case. Aside from Steam, they're raking in money from the monetisation of Team Fortress 2, Counter-Strike:Global Offensive, and above all Dota 2 right now. The open-allocation system is apparently backed up by a peer-review system which distributes bonus money in proportion to how much money you've contributed to the profits recently. If anything they seem to be too focussed on chasing monetisation opportunities at the expense of boring and non-lucrative bugfixing.