How else should Epic compete? They can't reduce the price in line with their 12% cut vs steam's 30%, because steam doesn't allow games to have cheaper prices elsewhere.

Which now that I think of it seems anticompetitive from Valve.

Exactly this - exclusives are a standard move which we can be guaranteed will be used if multiple apps stores are allowed on iOS.

It won’t help consumers or developers, but it will allow epic and other well funded companies to insert themselves into a revenue stream without creating value.