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Well the predecessor was Borderlands 2 (or TPS if you mean game launch). So I believe you mean successor (say Borderlands 4 for example).
Games stay at full price. Sometimes they go on sale, but that is temporary, not permanent. Though a game can reach a complete bundle version (say base game and season pass included), where the price is cheaper than the individual costs. There is no guarantee of when such a bundle or collection becomes available as an ongoing option.
So either buy it now on full price or add it to your Steam wishlist so you can be notified when it goes on sale. There are games much older than any Borderlands game that are still at full price and only get an occasional sale. It is not like a store having to clear physical stock. Welcome to the digital world.
Steam's model is full price games for people willing when they want something now or grabbing it on a temporary sale (publisher, game series, seasonal, genre, etc.). You can't wait then you buy at the current price.