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Wow if true this quite horrible number.
So for 9 months the total revenue for steam sales is about $2.9 billion.
And valve claims to have over 125 million active users...

That equates to the average user only spending $23.40 for that entire period or about $2.6 per month.
And this revenue not profit ... even assuming valve gets 1/3 that leaves $975 million then you have employee costs, maintenance costs, building costs, other development and marketing costs, and taxes. After all is said and done they might only make $200-$300 million. Then whatever is left over probably has to go as payments to investors.

No wonder Half life 3 was never made they can't afford to. Imagine if they made a mistake and a big budget game like that didnt sell. Thats what happened to many defunct publishers.