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They were a nice distraction, but a sales event always has been about discounted games for me.
A few people ruined it for everyone. So now nobody gets anything anymore.
Users abused them to hell and back and they did not generate the desired engagement towards the sales so Valve stopped making them.
I think the Grand Prix was worse, iirc. Greater the possible rewards, more it will be abused.
Whereas if they spend the developer time on new features for the client (e.g. the new Game Recording features, new Family sharing, etc.) or backend tools for developers (e.g. the ability to create custom sales pages, like this) that stuff is around permanently. Given that all of Steam's UI is now all based on web tech across the board, every single piece of UI is being done by exactly the same devs so they're all in competition for dev time.
In the end Steam is a platform for selling games and does that best if people use their time to check out games instead of playing an event game.
Also Steam got bigger and bigger. I can't even imagine what these old events would look like today with Steam having broken user records again this year and every year before that.
how was Saliens ruined...
Auto clickers.
Everyone knows that they don't exist.
They enjoyed silly, short-term games for the community (possibly expecting some sort of swag for participating??