And for games, becoming a middleman like Steam is where the profit is. They have less risk since they are just facilitating connecting game "manufacturers" to consumers. They aren't heavily invested in one game. If it's a flop there are others.
I wouldn't say "where the profit is." There is steam...what else is there? Microsoft/Sony/Google/Apple marketplaces? Those don't really count because they control the platform and essentially kill all the alternatives. Gog, humble bundle, and itch.io are a tiny fraction of steam.
It's important to keep in mind that selling shovels and being a middleman are not the only options. There are certainly others. Its just that my exoeriences and studies have pointed to those two being the most profitable in the current cultural setting.