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I guess it's really to convince the whales to bring their big IP to Steam who are then happier with 10% of $millions than nothing at all.
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The logic is that it incentivizes big game developers to put their games on steam, which always make exponentially more money than indies. 10% of AAA's bottom line is more cash than 30% of a smaller dev's profit. Sucks for indies, but from a business perspective it makes sense.
End of conversation
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