Is Valve dead in someway?

It looks like the Valve Corporation likes to stop games at part 2 and refuse to make part 3. They make alot of DLC or expansions for games like Team Fortress 2, Half-Life 2. and Left For Dead 2 and Portal 2.

They sometimes make side story games but still no part three's. Is Valva afraid to move forward and make more sequels to their games?.

Don't they own Steam?

Yes.

As a game developer, they are a shell of the former self.

Let's see how the VR Alyx game turns out.....but it's kind of bullshit to fans (like myself) that the next Half Life game is a VR exclusive. For me to play it...I would have to update my computer and buy a VR headset. Not worth it.

Modders will have a field day with that one.

Other video game companies like Nintendo, Sega, Capcom, Bandai Namco, Square Enix and Sony all make lots of sequels to their games and also move forward to create new original games.

Valve does not like to even move forward.