Valve's a great example. They have overwhelming market share and could have long since tried to tighten the screws to make a buck, and haven't done anything of the sort. They've also launched numerous 1st party systems and hardware that they could have tried to shove on people (Steamdeck, Index, controllers, etc) but, again, have done nothing of the sort.
That figure is quite ridiculous. Even if one completely ignores Steam and all of their games/products, even CS:GO alone is worth billions by itself, with millions of concurrent players (and growing) more than a decade after its launch!
All that said, I would expect Valve's total immediate-term 'worth' to be much less than it could be, which is the entire point of this topic. The reason companies treat their customers poorly is because it's profitable, but it also has consequences. You see large short to mid term growth in exchange for long term failure. That's why I think it's more typical to see public companies treat their customers poorly than it is for private companies. Generally the "employees" (including board and CEO) of a public company are evaluated on their short to mid-term performance.
By contrast private companies, especially ones that remain private long beyond the point of being able to 'cash out' with a public offering, tend to be more focused on the long term viability. So it's expected that their 'value', whatever it may be, would be less than it would be if they acted in a hostile fashion to their users.
