I suppose Valve’s core argument isn’t entirely unreasonable. I do think there’s a bit of a difference between collectibles and lootboxes, in the sense that there’s mystery boxes that have like one out of six equally distributed figurines (meaning each one has the same value basically) or a mystery box with a vanishingly small chance for an exceedingly rare item. I’d argue the latter is far closer to (problematic) gambling than the former. Valve’s lootboxes fit into the latter category for the most part though.