The reason that it’s so hard to compete with Steam is that Steam just does what it does so well.

I don’t have much desire to change my primary digital storefront because there isn’t really much of anything more I want from a digital storefront that Steam doesn’t already provide. If the quality of Steam’s experience declines at some point, I would welcome competition, but otherwise, why would I bother switching to another service when I don’t really have any complaints about Steam?

Besides, the TV/movie streaming service market has already demonstrated what happens when not enough competition suddenly turns into too much competition. If Epic were able to demonstrate that it was possible to overtake Steam, everyone would try to copycat their strategy, and then you likely end up with a balkanized market where no one has the market share or resources to provide the level of quality that Steam does.