I get all that, but EGS will build those features out eventually. They might not exist today, sure, but Steam didn't have all those features when they first started either. Give them some time and EGS will build all those features in eventually.
I just don't see a world where EGS existing as another valid and popular platform won't benefit consumers. EGS and Steam will compete for customers and sales, resulting in lower prices and more choice. If we need to put up with a year of EGS having fewer features than Steam, then so be it. I think the long term benefits outweight the short term growing pains.
Steam didn't have those features because no one else did. They were pioneers. Epic arrived 15-16 years after Steam, so they need features expected today, not in 2003.
Plus Epic have shown no willingness to match Steam on features, or they'd be charging a higher store cut. They are, and always will, operate on a shoestring budget because their client is basically a downloader.
And exclusives don't drive prices down. They do the opposite as there's nowhere else to buy the games.
If Epic wanted to compete with Steam they'd provide a better service or a unique selling point that delights end users. Paying for exclusives just feels like they're trying to buy their way into a market where they haven't earned any trust or respect from the customer.
In fact, as far as competition goes, the only guys on PC giving Valve any legitimate competition is GOG. They've realised that the only way to beat Steam, or at least take a chunk off its large market share, is to challenge its ubiquity as a game launcher. That means they need to provide quality service.
Epic are going completely the wrong way about it, and generating a ton of a negativity in the process.