Again, Valve has always reviewed large key requests out of concern that they may be used to shepherd people away from the store:
Steamworks Documentation said:
NOTE: Steam Keys are intended to help partners run their other physical and digital businesses by matching offers that exist on Steam. It's important that Steam customers are treated fairly and that offers using keys are materially consistent with offers on Steam. It is not okay to sell keys for products that aren't also available for sale on Steam at the same time. Make sure Steam customers are getting a fair offer relative to any other stores where you distribute Steam keys, especially at launch.
Steamworks Documentation said:
NOTE: Requests for large amounts of keys will need to be manually reviewed by Valve before processing.
Nothing has changed aside from smaller requests now having the same level of scrutiny as larger ones. Developers can still sell their games elsewhere:
Steamworks Documentation said:
Other Retail Stores.
You are welcome to generate keys for resale with other retailers, including your own website. However, your product must also be available for sale on Steam. If you are hoping to receive exposure to Steam customers, the price on Steam will have to match prices elsewhere.
And they can still partake in indie bundles:
Steamworks Documentation said:
Bundles off Steam.
You are free to use keys to distribute your product via bundle offers off Steam. We've learned from developers that pay-what-you-want bundles are a great revenue opportunity when your product is very far along its life cycle.
What they can't do is use keys to frequently undercut the store. That's the key word here -- "frequently". Sales on other stores are fine. Indie bundles are fine. Just not to the extent that the Steam Store is left in a comparatively bad position for a prolonged period of time.
