Edit: the original comment left it unclear if the price rule only applies to copies sold that include a steam key, or if copies that work completely without steam can be arbitrarily priced. If the latter is the case, it’s obviously fine. If it includes any game version, it isn’t OK.
Ok. The rule is, actually let me link it…
https://partner.steamgames.com/doc/features/keys
“Steam Key Rules and Guidelines”
“You should use Steam Keys to sell your game on other stores in a similar way to how you sell your game on Steam.** It is important that you don’t give Steam customers a worse deal than Steam Key purchasers.”**
Just read that paragraph. It should be pretty clear what the whole thing is about.
That is specifically not what is happening.
https://partner.steamgames.com/doc/features/keys
“Steam Key Rules and Guidelines”
“You should use Steam Keys to sell your game on other stores in a similar way to how you sell your game on Steam. It is important that you don’t give Steam customers a worse deal than Steam Key purchasers.”
Valve does not “dictate” prices in any way.
Ubi and WB are free to sell their games for as cheap as they want. But if and ONLY IF they offer a steam key with the purchase, they can’t undercut steam.