That requirement only exists when you also offer a Steam key for the game that’s being sold. So Valve is actually the good guy here: You can sell on another store, where Steam doesn’t get any money, and give the user a Steam key, provided by Steam for free, and the only thing they ask is to match the price on Steam.
Don’t offer a Steam key, and you can pick any price.
That is my understanding of the issue.
There is a claim by some developers that Valve was pressuring them behind the scenes (“don’t offer your game for cheaper elsewhere or else we’ll take it down from our store”) a while ago, but I’ve never seen appropriate proof of it, and that was part of (an earlier?) lawsuit.
We should regularly be seeing lower All-Time-Lows for most multi-platform games on non-Steam platforms then, right?
I don’t think we do. Why not?
Because that’s not beneficial for companies. They want to make (more) money.
The only option most developers and publishers would have is to move to another store, where the cut is usually the same, with the exception of Epic Games Store. And as pointed out elsewhere, setting up and managing your own store ends up being more expensive than a 30% cut. And then you still don’t have the same features as Steam.
Because that’s not beneficial for companies. They want to make (more) money.
If having a lower price means you make more sales, then yes, it definitely can be beneficial for companies.
If you want to make $40 per copy, you could sell for $60 on Steam, or about $47.00 on Epic.
Being on sale for $47 would “unlock” more customers than you’d get if your game was only available for $60 everywhere. Some customers won’t ever buy the game at $60, but they would at $47, and the company makes the same amount of money.
That is beneficial for companies.
setting up and managing your own store ends up being more expensive than a 30% cut
No, it absolutely does not. But if you’re not on Steam, your indie game doesn’t sell.
How much income per sale a seller is willing to accept is a big part of the equation that goes into pricing
They absolutely pressure developers to not sell cheaper elsewhere, even without a Steam key.
http://blog.wolfire.com/2021/05/Regarding-the-Valve-class-action
Steam might be the best of the gatekeepers, but they’re still anticompetitive.
I’ve looked into Wolfire’s claims multiple times in the past, but it was never confirmed elsewhere, so I don’t know what to think. Maybe this was a thing Valve did in the past (in which case, yes, boo!), but they couldn’t get away with it anymore, with the volume of developers that are now on their platform.