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Epic is partially funding the game and helping with the development, so it probably won't come to steam, just like Alan Wake 2.
It's... Complicated. Interviews with devs that did Epic exclusivity (permanently or otherwise) cant directly mention their contracts. Its been stated that its rather difficult to avoid being strung along. This is why when a studio shakes epic's hand, Epic doesnt let go.
Here is an example; CI games has a ton of stuff on steam, so why is LotF on Epic; here is how it works, from my understanding.
Lets say you make Bob 1. Bob 1 is a risky venture since your company makes safe games that will always put food on the table, but Bob 1 will need a lot more funding than all your projects up until now. You're very passionate about making Bob 1 though. So you go to Epic and ask for help. Epic agrees. The contract you sign for epic is exclusivity. Sounds great. You'd have a lawyer looking at the entire fiasco, but you're just happy you're getting a way to make Bob 1 so you agree. These contracts make it so Bob. Not Bob 1, will be Epic exclusive (for a certain time or permanently) Bigger studios can negotiate and maybe even have lawyers who can facilitate this. You do not.
So you make Bob 1. And its a big success. Everyone is playing Bob 1. You make a billion trillion gazillion dollars. You have 5 Lamborghini hotwheel toys, the whole 9 1/4 yards. Now you start making Bob 2, and you realize what you've done. You could make billion trillion gazillion dollars x2 if you release on steam. But Epic has you in their clutches. Even if you have the money to give them the middle finger and make it on your own, you are forced to stay with epic. Not all deals are the same obviously, but you bet your bottom dollar they're willing to string devs along like this. Epic has proven time and time again that they have no morals when it comes to profit.
Elden Ring and plenty of other souls-likes still exist
Wont make me purchase it on Epic anyway.
after 2.0 hit I bought the game and my friend did too to play through it.
But I guess that's where it ends, I literally detest epic game store so much I am tempted to BUY the 2 games I own on it for steam to avoid having it installed. in fact i just don't play the games in question and don't have epic game store installed.
After a while Epic decided to pull Rocket League accounts out of Steam so to have "all the stuff I had purchased inside Rocket League" I had to link my Steam account to Epic to play with my stuff there.
"SUDDENLY" my Shadow of the Tomb Raider was requesting me my Epic login (starting the game at Steam) or else I could not even get to the menu (so Epic basically kidnaped my game and I had to start it from there "for some reason").
I unlinked my Steam account from Epic, lost access to all my Rocket League content (that I had paid extra dor cars and skins) and had access only to the basic content on Steam but now my Shadow of the Tomb Raider game was possible to be played through Steam.
After that Epic lost me and I did not care about all the free games I had got at Epic, I "purchased" on Steam most of those games I had for free at Epic. (So Epic lost a possible consumer and sold more games to Steam along with someone that became anti-Epic)