this post was submitted on 16 Jun 2024
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Tbf monopolies are sometimes unavoidable. Like the water company or the energy company (at least the ones that actually own the cables). Usually natural monopolies are nationalized though.
Even if steam is not a natural Monopoly, competition is possible, we allow it to be a monopoly because we like it, not the other way around. There are plenty of digital stores, you can at any time buy almost any game from an alternative, I'm not aware of steam having any exclusivity agreement with any game (except the ones that valve made).
Valve also doesn't use shopping platform monopoly methods such as artificially making process low by selling at a loss, which is the main problem with other monopolies like Amazon.
It also doesn't bundle 100 unnecessary services to the subscription. It doesn't even have a subscription.
Sure, you can't move your steam games to another platform, but you can get new ones. It's not much of a problem having games from different platforms anyway, GoG for example even let's you launch steam games from the GoG launcher. And you can always go back to good old shortcuts on a folder.
The moment steam starts enshittifing, it will be very easy to switch to another platform. Compared with other platforms, like any social media or YouTube.
That isn't the only method. There is also the "[Platform] Most Favored Nation" clause, which eliminates the ability to undercut the platform elsewhere. This allows the platform to leverage it's market share and benefits to maintain dominance, raising the price floor of the market so nobody can compete on cost. Being the dominant platform, with better economies of scale and consumer intertia, this gives them an advantage in that competing platforms have a difficult time being the better choice.
Valve uses a PMFN clause. See my other comments for links to relevant court cases.
Being familiar with "enshitify", you should go read more of Cory Doctorow's (who coined the term) writing over on pluralistic.net. He writes frequently about monopolies (his writing on Amazon's monopolistic practices (skip to the part about high fees and raising prices) are applicable to Valve's PMFN clause). He also has explicitly given social media platforms as examples of platforms prone to enshitification because of the high network effects.