Valve needs serious competition. But I hate epic for trying to buy its way into competition by taking exclusives which were sold on steam initially. Instead of trying to actually be better than valve.
Unfortunately there's no competing against monopolies because of the network effect and the chicken and egg problem. A better product won't solve much, exclusives are almost the only option.
There's no way they could have gotten any traction simply by competing on quality of features. Not only does Steam has a decade-long headstart, but people aren't going to willingly split their library over multiple clients unless forced.
Epic couldn't have realistically broken in without forcing people to use their client.