This is correct, also the steam keys are free to generate. I.e. when you buy a steam key from sites like greenmangaming, valve/steam gets $0. Steam could easily

This is correct, also the steam keys are free to generate. I.e. when you buy a steam key from sites like greenmangaming, valve/steam gets $0. Steam could easily not provide the keys service or charge their cut as keys are claimed, but they decided to take the loss.