It has been revealed through a series of lawsuit-related documents that Steam is maintained by a relatively small team.
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Valve is profitable because of the reputation they’ve built up over many years as being an incredibly consumer friendly storefront. Avoiding corporate bloat, and focusing their attention on the core aspects of their business consumers care about has allowed them to thrive where many others failed. Valve created and maintained a fantastic product. So yes.

Chemical Wonka
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You’re right but missing an important factor

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