Yeah I mean they're handing out games for free left and right, their store sucks, their reputation sucks (both among gamers and most devs), of course they're not making a profit. Their 12% cut is only able to about cover costs because it doesn't include transaction fees and while I'd like Stream to lower their cut they're providing a fuckton of service for devs and the health of the wider ecosystem. I'd wish Gabe would finally figure out succession, though, e.g. make Valve a foundation, think Zeiss or Bosch, to make sure it stays bound to statutes instead of finance for eternity.