Probably because Valve doesn't make games anymore. Not on any serious level anyway.
Most of their games are old as hell, and most of them where in the "proof of concept" relm. They only really made games to push the technology they were working with.
It'd be a poor argument to bring up their old catalog of games from 20 years ago as something that made them a worse company today.
It's about more than just taking a 30% cut of sales. Everyone agrees that it's a high price. So what else might the potential competition do that make them stand out as worse than Valve?
Also, overworked and underpaid Devs are a different matter. You have look at their Publishers about that.
I believe Valves Devs are quite well paid and far from overburdened.
That game gets my brain firing on all cylinders and although it has It's frustrating moments, I'd say that overall I think it's great. It's one of the few 'Live-Service" games I actually enjoy.
Todd isn't busy fixing anything. Let's be honest.
There's enough diehard Bethesda fans that will buy anything he shits out. Even F76 has a playerbase now.