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Microsoft - keep your filthy hands off Valve, leak shows MSFT would buy Valve
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Only more transparency in the fiduciary sense, which only really helps shareholders. All companies are still required to follow any regulatory disclosures, which generally benefits the public and users.
Valve has only gotten to where they are being on the pulse of the gaming community, and being agile to adapt to those needs. Publicly traded companies only care about profits and shareholders by contract. That's kind of their job once they go public. Very few buck that trend.
Yes you are somewhat right. But IMO Valve is what it is because of Gabe Newell, private or public is not the determining factor.
When Gabe Newell at some point leaves Valve, the company will change, no matter if it stays private or goes public.