This is an anecdote, but it is also absolutely not speculation. I won’t install Epic, I avoid most AAA launchers/required accounts, prefer GOG, and get most of my games on Steam. Epic and many other studio launcher apps are hostile to the consumers or just a royal pain to use. I have a couple Sony games. Why should I have to be online to play a 20-year-old single-player game that I bought through Steam? So now I check if they have that garbage before I buy them through Steam.

I think Steam could afford to charge less, but I don’t think most smaller companies could get a basic store up for less than they charge (and the big companies have the tools to determine if thos is saving them money), and that still doesn’t get you everything Steam brings to the table, consumer confidence being the most important.