I really do wonder how big the numbers are for people morally okay with piracy who bought on Steam for its features. It's a genuine question, and I don't think anyone knows the answer. In either case though there's a sizable number of people who are not morally okay with piracy, and exclusives will work on them (as shown throughout gaming history). Exclusives are the third way to make money, in addition to your first sentence. Do you think Epic's paying for them just for shits and giggles? Do you think Sony and Microsoft do? They influence consumer behavior, obviously.
in a digital world, features have to act along our laziness.
remorseless pirate here.
i avoided steam for years, it was completely useless to me, i wanted and still want my physical object when i give money away for it, if i don't own money anymore i demand to be owning something else in exchange, play.com got rich with my orders.
my first purchase on steam has been the x-com package, because
1) i could download it faster than i could find the floppies
2) it worked out of the (virtual) box, without tinkering with dosbox
3) it was updated
4) it was hella cheap
all those reasons went along with laziness.
during the later years i also bought a lot during the 80-90% sales, 1-5 euros for a game was cheap enough to convince me to forfeit my preciousssss box. bundles helped too. also workshop, once properly fixed long, long later, has been a valuable commodity.
times are a changin', it'd take me several days, even a whole week in special cases (like middle earth shadow of war. nigga please, 100 gb? are you nuts?), to download a game, point 1 is out. 99% of the sold stuff barely works, needing months of patches, point 2 is out. it doesn't matter, i must wait for updates, i'm not gaining any time here, point 3 is out. sales aren't as good as they were, games which once went down to 20% price after 6-10 months now are still full price after years, so point 4 is out.
and then, on top of all this, i have to put up with a gigantinc plethora of clients and launchers, each and every one of them a potential security breach, an annoyance, a weight on ram and cpu, a reason to be worried.
i see absolutely no reason to keep following these trends, i rather stopped buying altogether.