I completely agree Valve made a big mistake by opening the floodgates, but let's not pretend Epic driving 'competition' or their store is actually good.
While anyone can sell their game on Steam, Epic handpicks only successful indie developers. If you are new, you are basically fucked up since Epic won't sell your game.
And ignoring that, Epic store and launcher sucks. It is amusing they posted about adding the search bar like it was a novelty. Even the Switch Eshop had one when it launched. And it seems Epic isn't interesting improving their store. They only care is moneyhatting developers and publishers instead of improving their store or developing their own games.
Finally, the 12% cut isn't good. Epic can deal with it thanks to Fortnite, but others don't have a printing money machine like Epic. This will also screw other storefronts like GMG, GOG, Humble and Fanatical.
Overall, Steam has issues and no one should deny that. It also has room for improvement. But saying EGS is good for the PC Gaming market then you are deluding yourself. What they are actively doing is screwing everything and bringing console-like practices that should never have happened in the PC Gaming space.