STEAM is apparently bleeding money too, selling indie scud in firesales for $1 to low end PC gamers is not profitable.
As 99% of PC gamers game on low settings on their lap-tops/e-machines/homework machines, VALVE's brand of junior-tier, low-end games and gaming isn't really sustainable.
as the market of PC gamers mature out of their teens and join adulthood, they will abandon the PC budget platform and move on to real games on consoles, namely PS5 and Switch.
PC is dying. this year is proof. 2021 marks the turning point towards the end of PC gaming.