Probably an unpopular opinion, but I'd rather have a wells regulated (whether externally or internally regulated) monopoly than a farcical competitive environment.
Looking at power companies, I grew up in a market that had a regulated monopoly. The power company had strictly enforced (by state government) regulations on how much it could charge for services, cost per kWh delivered, reserve components for maintenance, etc. They owned and ran the infrastructure so they served as a single point of contact to install solar. Life was simple.
I now live in a deregulated area. At least once per month, I have someone coming knocking on my door trying to get me to swap to their provider, my bill is an arcane mess (I still don't know how much I pay per kWh), and its be autocratic mess trying to get the solar/home batteries spun up for my house.
I think steam is doing great for an internally regulated company. I have my druthers (see everyone else's comments about not owning your games), but its way better than the streaming wars with Netflix and Disney Plus and such. We see how bad it could be, but it isn't. That's what I see "breaking up" Steams "monopoly" would become.
Yeah, def dread the day Gabe leaves the company.