You’re using a different definition of monopoly from what I’m using. To quote Wikipedia:
In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices, which is associated with unfair price raises.
I’m using the latter of those definitions. I don’t think it’s particularly useful to only consider it a monopoly when there are literally no competitors. I think it is useful to consider it a monopoly when it has dominant market power. Steam’s estimated 75-80% market share is dominant market power.
One doesn’t have to actually use a power in order to have that power. If I was carrying a loaded shotgun, I would have firepower. I wouldn’t have to actually fire the gun to have firepower.
Also, one could argue (and Epic Games has) that Steam’s 30% cut is overly high for digital distribution. I’m not sure whether that’s true or not, but that doesn’t really matter to the question of whether Steam has dominant market power.
You’re using a different definition of monopoly from what I’m using. To quote Wikipedia:
I’m using the latter of those definitions. I don’t think it’s particularly useful to only consider it a monopoly when there are literally no competitors. I think it is useful to consider it a monopoly when it has dominant market power. Steam’s estimated 75-80% market share is dominant market power.
So how often does steam charge overly high prices, which is associated with unfair price raises?
One doesn’t have to actually use a power in order to have that power. If I was carrying a loaded shotgun, I would have firepower. I wouldn’t have to actually fire the gun to have firepower.
Also, one could argue (and Epic Games has) that Steam’s 30% cut is overly high for digital distribution. I’m not sure whether that’s true or not, but that doesn’t really matter to the question of whether Steam has dominant market power.