So, Epic is basically choosing some devs (the top end that didn't really need help in getting investors and funding, it's not like they'll give Random Joe 10 million to create his dream game with out any historical guarantee of ever making that money back or completing the project) to loan money to in return for exclusivity, ie all 50% sale profits they wouldn't otherwise get, and they're getting it all for free since any funds they give up front have to be recouped first before the dev sees another dime. And people say they wanted Valve to do this? What? Valve is hands off and provides an open platform as another option for anyone and everyone, publisher and indie, why want them more involved in others' business? If these guys got a loan from someone else they'd have to give interest on top but not limit their game to any single platform or for giving back the loan up front from their sales. If they got it from crowd funding they wouldn't even have to return anything. Etc. So, yes, some devs are getting a nice loan with good terms in return for that freedom. It's not some paradigm shift, just a twist on what Epic's already been doing, pretending to give money they always calculate to be able to recoup and get free exclusivity and other bonuses. The real nice thing would be to fund the game and recoup their costs from the 12% rather than get 100% until they achieve that, much like paying your loan monthly, sans interest (which can be considered to be the 12% they get from only having it on their platform). Or to ask for a monthly interest but not force them into using EGS alone.
It's still a good thing that will make some other publishers more likely to offer better deals to compete (more control of the game/IP remaining to the devs, more chances for revenue sharing rather than just keeping it all in return for funding it or giving bonuses based on sales, whatever they do instead) but it's not like they can copy Epic's model exactly as they don't all have their own store. And this has nothing to do with Steam/Valve, just third party publishers, ie, those that have their own dev teams and/or contract other dev studios to do their bidding as their business. Ie, they now compete with Annapurna who was so quick to support them, it would be nice if all their collaborators just go to Epic for their next game but sadly Epic isn't even gonna get all of them onboard. Even in Control dev's case the ideal scenario would be to have made enough money to not need a publisher for funds so have true full freedom. Clearly it didn't.