It is, but I'm not sure why that's relevant? xdertz's point wasn't, "Valve is private and therefore it engages in ethical consumer practices"; the point was "Valve engages in relatively ethical practices and because it's private, the board can't replace Gabe with a CEO who would engage in more unethical practices".
Not sure if this is relevant, but I have read reports[1] that Tencent currently holds a 28% stake in Epic Games. So private, but with unknown levels of ownership.