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Their product provides a value to publishers and consumers alike, which is why people use it. And it’s not a monopoly, people whine all the time about using other launchers on PC due to the competition.It is, they profit off of the lack of regulation for digital distribution platforms (unlike physical stores that are regulated and have a maximum tax/margin authorized), they make tons of money while providing a very low effort/value service compared to actual publishers and devs, also because they have a monopoly that governments also didn't regulate and see coming.
In any case, and this is the case for any investor funds or other digital platforms applying disproportionate sale taxes or low streaming payments, they are leeching off of the money of people who actually work, produce and create intrinsic value for the markets and the consumers.
Steam provides a value, and it’s in the position it’s in largely because it did it first and has been improving steadily over time. They deliver content for publishers and get a cut. Providing a service and receiving compensation is how the world operates.