Gamedev is just very poor industry. Think of your usual FAANG salary and divide it by 5. Or just any random software engineer job and devide salary by 2. There are companies like Epic Games that pay competetive salaries, but they are few.

Gamedev is also very stressful industy because both constant crunches and job instability. So you not only paid worse, but you'll work 2-3 times more that average SWE. And often fired when project is complete regardless of success.

So working at Valve is somewhat like a pipe dream for many people in the game industry. Especially because whole Valve is under 500 people which is like 10-20 times less people than work for Epic, Ubisoft or EA.

Source: I work in indie game company.