Yes, Valve is still making games, but probably not the games you want. The PC gaming giant has announced that they are currently working on a project called Artifact - a DOTA themed card game. There isn't a face or palm big enough on this planet.
Valve have announced a brand new game during this years DOTA 2 International livestream. Artifact - a DOTA card game. Yeah, if you are WTF-ing in front of your screen right now, you are not alone. This was the on-site crowd's reaction to the announcement.
An universal yawn and sigh. Looks like Valve is jumping onto the card game bandwagon started by Hearthstone, that has been puffing along a money laced trail since 2014.
Turns out that not serving people the product they want for a very long time, or even serving much of any product at all, will leave them quite disappointed once you actually do decide to announce a game. Could the eternally absent numbered game which shall not be named cause trouble for the company by the mere virtue of its absence? Probably not. Steam is doing just fine, and DOTA 2 and Counter-Strike: Global Offensive are still hugely popular.
The vague teaser trailer for
yet another card game
Artifact only states a 2018 release date. We will know if Valve has anything to add to the crowded TCG landscape next year - if they make the deadline. Valve time is still Valve time.