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What's up with Epic Games?
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In short, Epic is anti-consumer. They claim better support for developers, but in reality consumers are the one paying for that. Normally this wouldn't be a problem, but you the consumer have no choice in it. You are forced through exclusives and other limitations to use inferior service for the same price. Even free games they give are there to drag you into their ecosystem and abuse.
This is why Valve doesn't feel threatened, I assume, and is not likely to feel the pressure from Epic anytime soon. For that to happen, Epic would have to get on par with features and customer benefits equal or better than Steam and that's not happening anytime soon. Epic would rather throw hundreds of millions on exclusive deal with some developer and force you the consumer to buy the game on EGS than actually improve the service.