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New Details on Valve's New Game 'Deadlock' - Insider Gaming
(insider-gaming.com)
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Apparently valve doesn't really assign teams to certain projects. People can work on what projects they like and things organically get people behind them if they are looking good or interesting.
This means games that do get completed are often really good and ones that weren't looking good fizzle out.
It's an interesting approach for sure. I think it makes sense rather than steaming ahead with a bad game. On the flip side what could be an interesting product may die out.
It's happened several times to half life 3 apparently.
They had to suspend that policy for HL: Alyx though.