This is commonly mentioned on the internet because Valve puts a lot of effort into Steam and hardware, but they also have (at least) three games in active devel

This is commonly mentioned on the internet because Valve puts a lot of effort into Steam and hardware, but they also have (at least) three games in active development that are among the top grossing games on Steam, and among the top grossing and most played PC games. No one would say, Blizzard, Riot, Supercell or Machine Zone aren't game companies because they rarely release new games and most of their revenue comes from a few, large player count (or high monetizing), consistently played games. I've taken it mostly as code for "Valve doesn't release Half-Life or Portal games as much as I'd like" :).