In the games business, Valve is surprisingly OK. Also they're private and not interested in becoming part of a roll-up. I don't think those things are unrelated.
That game was really good though. I was reminded of a comment I read earlier to the extend that HL3 was never made because they couldn’t find a way to make it as much of a game changer as HL1&2 had been.
They're still very much in the games business, though. And it's better to have published few games than to milk their "franchises" dry in the usual way.
Well, yeah. But it is better. I'll trade not having HL3 for not having "spend P2W gems to boost production" type games.
But sure, Valve has loot crates in TF2, so they're not saints, it's very likely true that it's just because they're printing money that they're not shovelling crap (of their own). But other companies shovel crap despite printing money.