Valve does good not because they don’t have shareholders, but because their leadership is not gonna get fired for thinking about next year instead of next quarter. So they don’t squeeze the consumers for every dime, so people stick with them, and developers stay even though their fee schedule is not the best because they have all the people.
All of that short-term thinking is because of the stock market. All of their shareholders think of, day in and day out, is “line go up”.