I’m not convinced that Valve will go down the tubes when Gabe shuffles off this moral coil (praise gaben may he live a thousand years). It would require a strong company culture that believes as he does that piracy is a service issue and is thus willing to adhere to his vision in his absence, but that can happen in a privately held company if there’s a strong succession plan in place.
Now, if Gabe dies and Valve goes public, then it’s pretty much over. Platform monetization, proft-taking and short-term thinking would enshittify Steam in short order.