I have several friends who used to work at Valve none of them hate the place, they still have friends there, etc. But they tell similar stories as to why things that normal companies do successfully are impossible at Valve. Perhaps it’s best summed up by something one friend said about her year and a half at Valve: “I first learned who my boss was on the day she fired me.”
Google tried this, notoriously dense grating and then firing basically all the managers at an all-hands. That didn’t work out well at all... And now they have over-steered in the opposite direction!
You're saying that this organization doesn't lead to success, but because they accidentally have a successful money maker, now they can run like this?
I think there is disconnect here. There are successful companies that can operate like this, because this is a good way to get to success.
There's a timeline where startup Valve went through the standard publisher funding model instead and got pressured into releasing the "finished but not very fun" 1997 cut of Half Life, rather than taking an entire extra year (an eternity in game development cycles of that era) to overhaul the whole game at their leisure. Things could have gone very differently right from the start.