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Well, not every company is shitting money like Valve.
They can afford to do this because of their technical monopoly.
Blizzard, Bethesda, Epic, EA and many others have more money than Valve. So what's their excuse for not giving free games? Hell EA earned on micro-transactions for FIFA more than GDP of some countries.
Activision Blizzard annual net income for 2022 was $1.513B
In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion
Epic Games revenue is $5.76 billion according to figures reported in 2021
Valve generated around USD13 billion in total revenue in 2022
Also,
So what’s their excuse for not giving free games?
Did you really ask this after including Epic?
But these comparisons are ridiculous anyway. Neither of these companies are your friends, and trying to understand their behavior in terms of anything other than profit-seeking is only going to lead to you feeling betrayed. Gamers' obsession with defending Steam is so ridiculous that no one ever disputes the idea that Apple and Google are being abusive with their store policies, but calling out Steam for doing the exact same always brings dozens of people out of the woods who think it's a controversial claim.
Epic did give free games, though not their own. But in general you are right, none of these are our friends and they are there to do business. The question is from which service do we the users benefit the most and that's why I think including Epic was very important, even though contradictory in context of giving games. None of them tried to compete with Valve by providing a quality of service, instead they forced exclusives, tried public shaming, etc. I'd happily switch to Epic if they provide a better service but they won't and we know for sure the moment they gain traction that percentage they laughed at Valve they are going to start taking as well.
You're aware that Revenue and Net Revenue is not the same right?