I'll take free games. A free game is a free game, and some of the titles they have given away are ones I had been interested in getting anyway. I don't currently have any intention of buying games there though, at least for the time being. The giveaways do seem like a good way to establish a new game distribution service though, since a big part of why people want games on Steam is because they already have a library of games there.
And as much as I'm not fond of some of the things Epic has been doing lately, along with the lack of features on their client, Valve has kind of run downhill in recent years themselves. They got started as being one of the premier PC game developers, but when was the last time they released a proper new game? It's been the better part of a decade. Now they just take their cut from the sale of cosmetic items and games from other developers.
And it used to be that most of the games that made it onto Steam were at least half-decent, but then they opened the floodgates to shovelware and asset-flips, causing many good titles to get lost among the sea of cash-grabs. They had a chance to fix that when they switched from Greenlight to Steam Direct, but they only made things worse by lowering the bar of entry even further. Steam sales have also been getting less enticing every year. It's like they're not even trying anymore, but instead just sitting back and milking the industry. If competitors making a hard push into the market encourage them to try harder, that might be a good thing.