EA's David DeMartini recently suggested that Steam sales stopped consumers from purchasing games on day one, waiting for discounts to be applied instead.
Valve's Jason Holtman countered the claim in an interview with Eurogamer, saying that discounts were just a small function, and can help to strengthen franchises.
"Discounts serve a lot of functions. Highlighting serves a lot of functions. The qualities of the games serve a lot of functions. Everything we've seen, PC games and IP and all those franchises are more valuable today than they were four or five years ago," Holtman explained.
"If this were all about a cheapening and somehow lessening the money out there or somehow customers don't want to pay any more, they think everything should be like a used car lot - sticker price is not the real price - you'd feel that and you'd get real reinforcement of that.
"We don't see any of that. We see people buying a lot and enjoying it and playing a lot.
"Discounting is one small function of what we do. It's one small function of our market and our store. It certainly doesn't seem to be anything that cheapens IP.
"We do it with our own games. If we thought having a 75% sale on Portal 2 would cheapen Portal 2, we wouldn't do it.
"We know there are all kinds of ways customers consume things, get value, come back, build franchises. We think lots of those things strengthen it."
Valve recently revealed Steam Greenlight, a new initiative that allows users to help determine games to publish on the service.
With Steam Greenlight, indie developers can submit their games - whether in an early or late stage in development - and receive feedback from users.
Speculation over Valve sequel Half Life 2: Episode 3 has intensified in recent weeks, following the leak of alleged concept art.
Screenshot gallery - view the reported Half Life 2: Episode 3 images below: