Their plan for when Fortnite stopped pulling in money was for their Epic Games Store (that they propped up by paying devs lump sums just to not launch their games on Steam) to actually make Steam levels of money because surely exclusives and freebies will make people spend money on their store. Turns out there’s a lot of people that will never spend a dime on EGS, either because they won’t install it or only use it for the free games.
So all that Fortnite money they used to pay devs to not release their games on Steam ended up being a failed investment, and they’ve had to change their incentives from “we’ll give you a huge lump sum that’s about equal to what you’d have made with a successful Steam launch” to “well we’ll give you a better revenue split if you launch exclusively on our store that guarantees you get 10% of sales volume compared to Steam”. Turns out 60% of 1m sales is better than 80% of 100k sales.