https://www.gamingonlinux.com/2024/09/risk-of-rain-creators-hopoo-games-join-valve/
Exciting times ahead for Valve and Steam as most of Hopoo Games, the creators of the Risk of Rain series, have now joined Valve.
While Hopoo Games are the original team behind Risk of Rain, Gearbox under Embracer took over the IP back in 2022 so the series will continue on without them.
No, by all means it's dead
So they will probably release at most one game at Valve in their entire future career at Valve. The way Valve is organized where they prioritize and award profitability means that eventually everyone will work on the most profitable project and that is the store.