I think Steam gets a pass on that more than Apple/Google because Steam is just one of many avenues for selling a game on the PC whereas Apple has a monopoly on it and Google have an effective monopoly.

Exactly, game developers publish on Steam because they want to be on Steam while the App Store is the only way to publish for iOS and the Play Store is also heavily favored by the Android OS to make other avenues for publishing apps unrealistic. That said, a large value of Steam is the network effect (users wanting to have everything in the same store/launcher, friends on Steam for multiplayer) rather than platform features that others could directly compete with so I don't think the cut Valve takes is beyond criticism.

Steam allows you to generate keys that you then sell (or give away) on other stores. With no cut for them (purely third-party information, I have no personal insight), but the same UX as if someone had bought it on Steam.

That alone makes a huge difference and is nothing that either Apple or Google offer.

This. There are some limitations on how many keys you can request, but it's purely to stop abuse. E.g you can't ask for million keys for title that sold 10 copies, but it's super easy to get tens and hundred thousands of keys if your title is modestly popular.

At the end of the day though, those keys are only redeemable on the Steam platform and serve Valve's interest in keeping users within the Valve eco-system.

As an existing Steam user though, this is great for me! It means one less third party DRM platform I need installed.

Well, the comment I replied to, was about the 30% cut, though ;)

And regarding DRM: People often forget that the use of DRM with Steam is in the hands of the Devs/Publisher. There are DRM-free games on steam. Now, how convenient it is to back up those games is another thing, but it’s often possible.

As others have alluded to, I think the situation is different exactly because there is at least a real potential for competition. Epic seems to take a good swing at this. Sure, a huge market share _favors_ Valve in this case, but that's nothing compared to the technical infeasibility of the same approach say on iOS.

The PC remains an open platform, even MacOS to a degree (albeit apparently less so as of late...) and Valve have aggressively campaigned for it to stay that way. Competition there is possible.

I remember the debates from ~10 years ago around Microsoft's moves towards a more AppStore-like experience on Windows, where Valve really led the charge against it. The move towards SteamOS and Steam Machines seemed to be part of their reaction at the time. And it seems to pay off big-time now, not just for them but also for users, Linux users especially of course. :)

Also, some of the bigger devs/publishers just use their own platform and seem to do fine, like Riot and Blizzard.

Steam takes 30% under 10 million in sales, 25% under 50 million, 20% after that, and there's also internal agreements to lower that cut.

That said, negative sentiment about Steam has been a heavy subject in years past. There's a reason Epic came in swinging with super low fees.

Part of it is that Steam seems to have a lot more features than those app stores, especially user facing features. If you’ve ever browsed around Steam’s UI and store, there’s a LOT of stuff going on.

The other part is that you have many actually useful alternative avenues to selling PC games. Yes, Steam is far and away #1, but lots of devs go direct to consumer themselves, and some use alternate stores like Epic, GOG, or Itch.

With Steam, you get your money's worth. A user forum, a friends list and invitation system, Steam Workshop, extensive controller support, etc. The lack of any features other than the ability to deploy on the platform at all is what makes the App Store's cut rent seeking.