I think you are blaming Valve for forces way beyond Valve's control. Valve isn't perfect, but it is a way better steward for PC gaming and PC gamers than any other American tech company would be.
It's harder to say that when they invented loot crates. Sure everyone's doing it now, and someone else would've done it eventually, but Valve pioneered it.
I suppose, yeah, some things would be a lot worse without Steam, so there's that.
As much as I like Valve, it's difficult to ignore how large a part they played in shifting the PC market towards F2P.
I bought TF2 with the Orange Box, and for a few years it was amazing. Then it went F2P with hats, and overnight the player base turned into a cesspit (and the hats themselves completely ruined the aesthetic that they spent years painstakingly crafting).