I think that is the main point of the lawsuit, if developers sell their game on Steam they can’t sell it cheaper somewhere else. If Value gets 30% the developer has to raise the price a bit to compensate and they have to raise it everywhere. Outside of sales I don’t think most games that are not on Steam are much cheaper elsewhere, so not sure how this plays out.
There were some AAA standouts, like Baulder Gate 3 and Hogworts Legacy, that did very well. It is possible if the company focuses on producing a fun user experience.