https://weloveit.io/developers/steam-revenue-report/

Here's the cool page for the study

Got a bit more of the deets and charts to actually make sense of the stuff

Edit: they also clarify that a single review includes the game in the listing

It would be more interesting to also get this data for other platforms (e.g. GoG, Itch, EGS), to be able to compare. If the statistics are the same everywhere, Steam isn't a relevant part of the equation, and it's just that 1% of video games in general generate that much of the revenue, which seems logical.

There are SOOOO many games on steam. This makes plenty sense.

There's so much slop on steam, there's a fucking game simply called "Sex" and it's an entrepreneur simulator where you build a retail empire while screwing the town (literally)....

CEO of sex simulator

Its the same for twitch, app stores, onlyfans and similar for dating apps. Seems more like universal phenomenon

There's too many games even if you limit it to only well known triple a titles to get around to buying and playing.

Not surprising with how much the cost and barrier to entry to make and release games has gotten. Most challenging thing now is to get noticed.