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Valve has recently gone through a major PR debacle after the company announced that it's implementing paid mods for games and Skyrim in particular. Their decision was short-lived, and it was retracted, but they have managed to incur the rage of the community. Independent developers are now working on a new game launcher that will make Steam obsolete.
Valve probably figured that there will be some resistance from the community when they announced paid mods, but they couldn't have anticipated the force of the response. The company pulled the paid mods for Skyrim just a few days after the announcement and things seemed to have settled down, but the online community didn't stop.
Strange then, that if you look at their Reddit blog, they are at pains to state that is most certainly is not a replacement for Steam or any other delivery platform.
What they're trying to produce is a common front-end to bring all the platforms together under one umbrella.
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