How are you differentiating stakeholder and shareholder? The employees are certainly shareholders.
Valve doesn’t really hire “grunts”. The people who are actually considered employees of valve are very few and highly skilled. The number of Wikipedia from 2016 is very out of date and estimates 360. But valve’s LinkedIn still says “over 300”.
there are common definitions for both terms. the employees aren’t shareholders as long as they don’t own a part of the company, but they are stakeholders since they have something to do with the company. their partners, publishers, etc. are stakeholders too