Gearbox founder Randy Pitchford has admitted his long-term hopes for Epic were “misplaced or overly optimistic” after previously predicting Steam could become a “dying store.”

To give a little context, in 2019, Pitchford wrote a lengthy social media post discussing Gearbox’s decision to make Borderlands 3 on PC a limited-time Epic exclusive. At the time, the executive said he believed Epic’s “investment in technology will significantly outpace Valve’s,” and went on to suggest that Steam could fizzle out and other stores would take over.

Fast forward to earlier this week when Gearbox revealed Borderlands 4. The next installment in the series is currently scheduled to release in 2025 for PS5, Xbox Series X/S, and PC via Epic and… Steam. Needless to say, this reveal has caused Pitchford’s previous comments to resurface.

Responding to another X user who created an infographic titled “This is how it started/This is how it goes” that highlighted Pitchford’s 2019 post above the Steam listing of Borderlands 4, the Gearbox boss said he had “high hopes” for the Epic Games Store, but that it had “failed to successfully leverage its advantage” in the meantime.

Pitchford wrote: “So Steam famously does very little to earn the massive share it keeps, maintaining its de facto monopoly in the West while potential competitors continue to shoot themselves in the foot with much more developer-friendly models.”

He added that although he uses Steam himself, he will “continue to cheer and support the competition.” He also claimed that “customers come for the games, not the store,” as evidenced by the initial release of Borderlands 3 and Tiny Tina’s Wonderlands on Epic.

“But the industry is giving Steam its monopoly because publishers are afraid to take the risk of supporting more developer and publisher friendly stores,” Pitchford continued. “This is all very interesting and there is a lot of opportunity for retail disruption in the PC gaming space, but no one seems to be able to execute. As a Steam Deck customer and user, my preference for personal interest and convenience is at odds with my desire for a more developer friendly alternative on Windows PCs.”

The developer further reiterated that he has “high hopes for Epic,” but that his long-term hopes for the storefront are “misplaced or too optimistic,” calling the whole thing a “cool lesson” for him and others.

“We will continue to support Steam well into the future (as we have with virtually every PC game we’ve launched since Steam launched),” he added. “In the meantime, I sincerely hope Epic continues the fight and makes progress. Epic needs to prioritize the store and try some new initiatives, while also doubling down on its efforts to get major exclusives if it wants to have a chance.

“I also hope that other serious competitors will emerge. I’m sure we’ll all be watching. As a developer, I will continue to try to be where the customers are and be where I want the customers’ trust and loyalty.”

Pitchford concluded his thoughts by saying, “As a gamer, I will be present on all platforms.”

Epic announced plans to compete with Steam with its own PC games store back in 2018 and boasted an 88/12 percent revenue split in favor of developers, which set the company apart from Valve.

The store continues to offer free games to its community. This week, both The Callisto Protocol and Gigantic: Rampage Edition are on sale.

Elsewhere in Borderlands news, it looks like the recent film adaptation, starring Cate Blanchett, will be available digitally later this month. Unfortunately, Borderlands (the movie) failed to generate enthusiasm among critics upon its debut, with one calling it a “major flop.” The adaptation grossed just $4 million on its opening day, a disappointing result that will likely make the film a commercial flop.