This is kind of necessary. You could open a store just selling Steam keys. You get Steam's software distribution, installed user base, networking for free and pay nothing to them. Steam is selling all of those services for a 30% cut. Since your overhead is $0, you can take just a 1% fee and still turn a profit because Valve is covering 99% of your costs.

Steam could disable keys or start charging fees for them. As long as they're being this ridiculously generous and permitting publishers to have them for free, some limitation makes sense.

I'm dubious, though. There must be a provision for promotional pricing. I've definitely bought keys for less than Steam prices.

[–] Spedwell 1 points 1 year ago

As I said, Steam would be in their rights to enforce that pricing policy for Steam keys, because they provide distribution and platform services for that product after it sells.

But as @Rose clarified, it applies to not just Steam keys, but any game copy sold and distributed by an independent platform. Steam should not have any legitimate claim to determining the pricing within another platform.